Deutsche Post board agrees Postbank sale

Deutsche Post's supervisory board agreed to sell a stake in its Deutsche Postbank unit to Deutsche Bank, sources with direct knowledge of the matter told Reuters.

Deutsche Post AG is a global logistics provider. It operates through five business divisions. The mail division provides services across the entire mail value chain, including production facilities at central hubs, sales offices and production centres on four continents, as well as direct connections to more than 140 countries.

The express division transports courier, express and parcel shipments all over the world, combining air and ground transport, under the DHL brand.

The logistics division, which also operates under the DHL brand, provides a range of international logistics services, carrying goods by rail, road, air and sea, and has long-term contracts with major and multinational companies in a variety of industrial sectors.

The financial services division operates through its Deutsche Postbank AG subsidiary, a retail bank network in Germany. The SERVICES division bundles internal services across the Deutsche Post group.

Deutsche Postbank AG (Postbank) is a Germany-based financial services provider. Postbank forms the banking operation of Deutsche Post AG, its majority shareholder, and operates in four business areas.

The retail banking division offers traditional banking services, such as payment transactions to the deposit banking and lending businesses to bonds, investment funds, insurance policies and home savings contracts.

The corporate banking business includes solutions for payment transactions, commercial real estate finance, traditional corporate finance for small and medium-sized enterprises, leasing, factoring and investment management.

The transaction banking division offers payment transactioning and account management, as well as credit processing. The financial markets division is responsible for Postbank's money and capital market activities, as well as price and rate risk management. Postbank is based in Bonn.