On 1 April 2008, the Group sold a portfolio of around 1,300 properties located mainly in Germany to US investor Lone Star for €1 billion in cash. The contract took economic effect on 1 July 2008. The majority of the properties will be leased back.
On 1 July 2008 the European Court of First Instance annulled a 2002 decision by the European Commission that had ordered Deutsche Post to repay €907 million in purported state aid and interest. Therefore, on 1 August 2008 the German government repaid the sum of €1,067 million to Deutsche Post AG.
On 12 September 2008, Deutsche Post agreed to sell a minority shareholding in Postbank to Deutsche Bank for a total value of €4.8 billion. The transaction of the first tranche will be finalised in the first quarter of 2009. Deutsche Bank and Deutsche Post adjusted the structure of the sales agreement after the reporting date.
Deutsche Post, as the majority shareholder of Deutsche Postbank AG, has participated in full in Postbank’s capital increase. On 27 October 2008, Deutsche Post stated its commitment to subscribe for the rights issue of 54.8 million shares at the subscription price in line with its stake in Postbank of 50% plus one share. Deutsche Post has also agreed to subscribe for all shares that are not taken up by the market at the subscription price. As a result of this measure, Deutsche Post’s stake in Postbank increased to 62.35% for the time being.
On 10 November 2008, the Group announced that it would withdraw from the domestic express business in the USA at the start of 2009. The international express offering in the US will be maintained at the current level. Total costs for restructuring the US express business now amount to around €3 billion, of which the majority were recorded in 2008.