EANS-News: Österreichische Post AG
AUSTRIAN POST TAKES THE NEXT STEP TOWARDS
CLARIFYING THE FUTURE JOINT VENTURE STRUCTURE OF ARAS KARGO
-------------------------------------------------------------------------------- Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- Joint Ventures/Cooperation/Collaboration Since July 2013 Austrian Post holds a 25% stake in the Turkish parcel services provider Aras Kargo. Austrian Post exercised its option to acquire an additional 50% shareholding, which was contractually agreed upon at that time, and initiated its call option procedure in the middle of 2016. However, there continue to be differences with the current majority shareholders with respect to the implementation of the call option agreement as well as the valuation of the shares. In this respect, no agreement could be reached over the last few months. Therefore, as contractually stipulated, arbitration proceedings have been initiated in Geneva in order to safeguard Austrian Post's legal position. The company's top priority remains to secure the value of its investment in Aras Kargo. Further inquiry note: Austrian Post Ingeborg Gratzer Head of Press Relations & Internal Communications Phone: +43 (0) 57767-32010 ingeborg.gratzer@post.at Austrian Post Harald Hagenauer Head of Investor Relations, Group Internal Audit & Compliance Phone: +43 (0) 57767-30400 harald.hagenauer@post.at end of announcement euro adhoc -------------------------------------------------------------------------------- company: Österreichische Post AG Haidingergasse 1 A-1030 Wien phone: +43 (0)57767-0 mail: investor@post.at WWW: www.post.at sector: Transport ISIN: AT0000APOST4 indexes: ATX Prime, ATX stockmarkets: official market: Wien language: English
Original content of: Österreichische Post AG, transmitted by news aktuell