Emmanuel Thomas I Wednesday, July 26, 2023
BERLIN – German delivery giant DHL is taking over the Turkish parcel service provider MNG Kargo, the Bonn-based group said on Tuesday.
DHL said it will benefit from the expected double-digit growth of the Turkish parcel market which is significantly higher than the expected growth rate within the European Union.
The young Turkish population has a high affinity for digital communication, DHL said, which should provide a strong tailwind especially in online shopping.
Until now, the DAX-listed company has only been present in Turkey with its Express division, which handles time-critical shipments.
According to the announcement, the complete takeover of the company with about 5,700 employees includes 27 sorting centres as well as 800 centres for the delivery on the last mile, meaning transport to people’s doorstep.
Whether the MNG brand will remain or be replaced by the DHL logo in the future will be decided at a later date, a company spokesman said when asked.
The Turkish authorities still have to approve the takeover. DHL hopes that the transaction can be completed this year, the spokesman said. No details were given on the purchase price.
