Investment fund Abris Capital recently acquired Romanian parcel services company Cargus from DHL, with the deal set to be finalized by the end of the year, pending approval from the Competition Council in Romania.
Abris will take over Cargus, its clients base, employees and operation bases, together with all domestic courier operations in Romania. DHL Express Romania and Cargus International will remain unchanged, with DHL focusing on international parcel services.
Abris already owns a parcel services company in Poland, Siodemka, which it bought in 2011.
‘After a prolonged recession, Romania is highlighted as the second largest economy in Eastern Europe with a new growth potential. Abris identified the business services in general, and the parcel services segment in particular, as one of the main beneficiaries of this growth,” said Cezar Scarlat, managing director of Abris Romania.
DHL was assisted by KPMG Corporate Finance and RTPR Allen&Overy, while Abris was assisted by Clifford Chance Badea and PwC Romania.
Cargus, set up in 1991, was acquired in 1998 by DP DHL.