The two companies signed a share purchase agreement on 18 October, with a view to completing the transaction at the end of the year or in the first quarter of 2013, pending approval from the Romanian competition authorities, Cargus said in a statement Monday.
Cargus is Romania’s second largest provider of delivery services, according to company data. The value of the transaction was not disclosed.
Following the deal, Abris will acquire full ownership of Cargus.
“This will further extend Abris’ experience in the Eastern Europe domestic delivery sector, after the successful acquisition of the Polish courier company Siodemka in 2011,” the statement noted.
Neither DHL Express Romania nor Cargus International will be affected by the transaction.
For DHL, the spin-off of its domestic delivery operations in Romania is in line with the company’s strategic focus on its core Time Definite International business, Cargus said.
“This decision was taken with a view to maximizing the long-term potential of our business in the Romanian market,” said Alexander Morozowski, chief executive officer of DHL Express Central and Eastern Europe.
With around 500 employees working for DHL Express, DHL Freight and DHL Global Forwarding, DHL remains a significant employer in Romania.