Austrian Post has reaffirmed its intentions to acquire an additional 50% of the remaining shares in Turkish parcel delivery provider Aras Kargo.
Currently holding a 25% stake in Aras Kargo, the post exercised its contractually stipulated call option to acquire an additional 50% of the shares in the company in June 2016. Austrian Post claims however that some of its fellow majority shareholders have disputed the call option agreement and the valuation of the shares.
Georg Pölzl (left), CEO of Austrian Post, said, “Parts of the family believe they can improve their negotiating position if they create a negative atmosphere and bring discredit to Austrian Post both within the company and in the general public. This is highly unprofessional. We expect CEO Evrim Aras to abide by the terms of the agreement concluded in the year 2013.
“Turkey is very interested in ensuring that companies have confidence in the rule of law in the country as foreign investments are very welcome.”
The alleged incidents referred to by Austrian Post include an “orchestrated tumult” staged at the most recent supervisory board meeting in Istanbul, and certain Aras employees being provided with “false information” about Austrian Post. The post has stated that it continues to believe in the potential of Aras Kargo and will continue to invest in the carrier to continue its development.
August 11, 2016
