Sinotrans Air Transportation Development said yesterday that it has agreed to sell its entire 50 per cent stake in a freight forwarding unit to a Deutsche Post subsidiary for 61.05 million euros (S$129.1 million).
Sinotrans sold the stake in Exel-Sinotrans Freight Forwarding Co to DHL Exel Supply Chain's Hong Kong subsidiary at an auction in a Beijing property exchange, it said in a statement.
Sinotrans sold the stake in Exel-Sinotrans Freight Forwarding Co to DHL Exel Supply Chain's Hong Kong subsidiary at an auction in a Beijing property exchange, it said in a statement.