DHL, the logistics arm of Deutsche Post, is preparing to sell its supply chain business operations in Africa, Germany’s manager magazin said on Thursday, citing sources at the company.
The report said the business could be worth around 500 million euros ($553.20 million).
Deutsche Post was not immediately available for comment.
DHL started business in the African continent in 1978, it grew till the late 90s, when Deutsche Post AG, the German postal service acquired some shares in DHL.
Subsequent shares acquisition led to majority ownership in 2001 and by 2002, 100% of DHL was absorbed into the German Courier Service, making it the world’s largest logistics company.