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DHL Express China JV nears partnership with APEX

(Agencies)
Updated: 2009-02-16 19:38

Deutsche Post AG's courier service venture in China is nearing a partnership agreement with a domestic express delivery firm, APEX, a spokeswoman with the venture said on Monday.

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"DHL-Sinotrans is in detailed talks with APEX to form a partnership and the two parties are not far from a final deal," the spokeswoman with DHL-Sinotrans International Air Courier told reporters.

She declined to specify the nature of the partnership, but did not rule out an equity tie.

The Economic Observer, a Chinese financial newspaper, reported on Monday that DHL-Sinotrans planned to take control of APEX for 300 million yuan ($43.87 million), citing an unidentified source.

However, an executive with APEX said the two sides were only exploring business cooperation.

DHL Express competes with United Parcel Service, FedEx Corp and others for China's express delivery market.

APEX is one of China's biggest private express delivery firms, offering services on the Chinese mainland as well as to Hong Kong, Taiwan, South Korea and other parts of the world, it said on its website.