CITIPOST, FUNKE Logistik, pd.MEDIENLOGISTIK and Pin Mail completed the acquisition of an 80% stake in mailworXs from PiWo Pin WorXs.

CITIPOST, FUNKE Logistik, pd.MEDIENLOGISTIK and Pin Mail, regional mail service providers, completed their acquisition of an 80% stake in mailworXs, a private mail service provider, from PiWo Pin WorXs, a subsidiary of Postcon National. The four mail carriers each acquire 20% of the shares in mailworXs. Financial terms were not disclosed. With the transaction, the buyers plan to further expand the area supply with letter and parcel services in Germany. The completion of the transaction is still subject to approval by the antitrust authorities.