Poste Italiane to acquire a 51% stake in Sengi Express from Cloud Seven Holding.

Poste Italiane, an Italian postal service provider, agreed to acquire a 51% stake in Sengi Express, a provider of cross-border logistics solutions, from Cloud Seven Holding, a holding company. Financial terms were not disclosed. The closing of the transaction is expected by the end of the first quarter of 2021. “This transaction is the natural evolution of the partnership we have been enjoying with Poste Italiane over the last few years, whose services we proudly and successfully promote with our Chinese customers. We are very happy to become part of an important listed group, and we are confident that we will successfully manage this attractive challenge,” Nelly Han, Cloud Seven Holding Sole Director.