Air Transport World

Japan Airlines.

Japan Airlines reduced its 26% stake in DHL International Ltd. to 6% by selling the majority of its holding to two investment trusts that also have subscribed for an issue of new shares that will bring their total holdings in DHL International to 23%. Price was not disclosed but was estimated at [yen]30 billion ($300 million).

DHL welcomed the transaction as providing the company "and its shareholders maximum flexibility as we plan for the future," according to Executive Chairman Patrick Lupo, who said DHL is contemplating an initial public offering within the next three years. …

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