Danzas Ag News

Slovenian shipping firm Intereuropa and port operator Luka Koper canceled a planned merger because the government was demanding the right to veto any management decisions in the new firm. The two companies had planned to merge on July 1. The state owns 51 percent of Luka, while Intereuropa is privately owned. The state's equity in the new company would have been 35.7 percent. "There will be no merger under such conditions where the government would have the right to veto practically every management decision," Radovan Vrabec, Intereuropa's deputy chief executive, said. He said the two companies would be ready to continue merger talks if the government eased its demands. Vrabec said the two firms would not suffer short-term damage due to the failure of the merger.

Deutsche Post unit Danzas AG has acquired a 49 percent stake in Finnish logistics group Kelpo Keljetus Fi Oy, a wholly owned subsidiary of Finland Post Ltd., Danzas officials said. No financial details were given. Kelpo, launched in 1999, focuses on the national transport of part-load and groupage traffic as well as parcels. It has annual sales of around $47.8 million and employs 860 staff.