Germany Raises $2.3 Billion Selling Deutsche Post Stake
- State-owned bank KfW sells 4% stake in Deutsche Post
- Sale plan for state-owned stakes outlined in November 2021
The bank is looking to sell up to 50 million shares, which equates to a 4% stake in the firm, according to deal terms seen by Bloomberg News.
Photographer: Alex Kraus/BloombergThis article is for subscribers only.
German state-owned development bank KfW raised €2.2 billion ($2.3 billion) by selling a stake in the country’s former state mail monopoly Deutsche Post AG.
The bank sold 50 million shares, which equates to a 4% stake in the company, at €43.45 apiece in an accelerated offering overnight. The price represents a 2.2% discount to Deutsche Post’s closing level on Tuesday.