FedEx completes 400 mln usd buyout of partner's stake in China jv |
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Published
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Thu, 01 Mar 2007 04:21
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BEIJING (XFN-ASIA) - FedEx Corp said it has completed the buyout of its partner's 50 pct stake in a Chinese joint venture.It paid 400 mln usd to acquire the stake in the venture held by Tianjin Datian W Group (DTW).FedEx now owns the FedEx-DTW International Priority express venture, as well as DTW Group's domestic express network in China.'China continues to be one of the fastest growing markets in the express industry and a key to FedEx international growth and profitability,' FedEx Express International president Michael Ducker said in a statement.will.davies@afxasia.com
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FedEx completes acquisition of DTW Group 