Dhl Buy's 49% Of Astar

[HD2003]

Posted today DHL purchased 49% of ASTAR with 24.9% voting rights and extends ACMI to 2019.

 

[rotor&wing]

June 12, 2007
Dear Colleague:
Today we announced the sale of a 49 percent economic interest and 24.9 percent
voting interest in ASTAR to DHL. Additionally, DHL and ASTAR have agreed to extend
the current ACMI contract to 2019.
The Board will be expanded from three seats to four seats and DHL will appoint one
director to our Board, which it has done, and we welcome Hans Hickler, CEO of DHL
North America, to our Board.
Consistent with U.S. laws, DHL’s investment is a minority one and the control of ASTAR
remains with the current owners. This investment will have no impact on our day-to-day
management. The senior management team will continue in their current roles.
On behalf of the entire management team, thank you for the work you do – in the air,
on the ground and in our offices – to make ASTAR a success.
Sincerely,
John H. Dasburg
Chairman and CEO

 

[sgu]

Where does ABX end up in this deal?
I thought ASTAR=DHL+ABX?
So now DHL owns 49% of Polar and Astar w/ ACMI deals?

 

[Whistlin' Dan]

Where does ABX end up in this deal?
I thought ASTAR=DHL+ABX?

It won't change things much...maybe make it a little easier for Astar to secure leases and financing in the event that they decide to re-fleet. The extension of the ACMI is a good deal for the Astar guys, but ABX won't be going away any time soon.

 

[Cargoav8or]

[quoteThe extension of the ACMI is a good deal for the Astar guys, but ABX won't be going away any time soon.[/quote]

And that is good. The ABXERS have put a lot of hard work and sweat into their company and deserve nothing less than a good career. I hope this eventually works out well for all!

 

[big_al]

well things don't look good for abx, though. with that news, you have to think they seem to be planning something?

 

[ABXbooger]

any way you look at this, it is not good news for ABX, unless we buy the other 51%...

 

[hvydriver]

Here's the link to the formal press release. I'd bet this is just round #2 in the ongoing financial maneuverings....

http://biz.yahoo.com/bw/070612/20070612006293.html?.v=1

 

[GoABX]

Seems strategically odd that they would not hold this announcement until the Astar contract was ratified. Unless they were more concerned about using the announcement to pressure the ABX guys into signing. (Right now the chances of ratification are the lowest of any time in ABX history.) This press release could have waited 6-12+ months, unless it was necessary for aircraft financing or to pressure Congress on the foreign ownership issue.

My own feeling is the recent DHL announcements of expansion in Asian locations co-located with ABX-ANA facilities is more than coincidence. But just so we don't become too hopeful if Astar buys more than 60 a/c, ABX will be cut out of the domestic market in 5 years.

If we are asked to leave the party at least we can look back and say we did everything we could. Great on-time performance, recoveries, saying "Yes" to everything DHL asked of us, and even returning money that was owed to us.

 

[erwaz]

Don't be surprised if DHL at some point buys a 49% of ABX. Then somehow merges POLAR, ASTAR,ABX in to one company. Renames the airline DHL Airways.