German postal company Deutsche Post World Net confirmed yesterday that it acquired a 5 percent stake in Sinotrans Ltd., one of the largest logistics companies in China, for $56.9 million.
Sinotrans already has a joint venture in China with the DHL express delivery unit of Deutsche Post and is a market leader in the express business segment in China with a market share of 40 percent.
The Chinese company also has partnerships with UK-based logistics company Exel PLC and United Parcel Service.
