MUMBAI — German postal and logistics company Deutsche PostDHL said Monday it plans to reduce its ownership of Blue Dart Express Ltd. by selling a stake in order to comply with India’s minimum public-shareholding requirement.
As of June 30, Deutsche Post, through unit DHL Express Singapore Pte Ltd., owned a 81.03% stake, or about 19.227 million shares, of logistics firm Blue Dart Express, Bombay Stock Exchange data showed.
The future collaboration between Blue Dart andDeutsche Post will not be affected by this planned transaction andDeutsche Post remains fully committed to the Indian market, said a statement.
Listed companies in India are required to have at least 25% public shareholding by next June.
Shares of Blue Dart Express closed 3.3% down at 1,913.40 rupees ($34.5).
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