DHL reduces its stake in India's Blue Dart Express all-cargo airline

CHENNAI-based Blue Dart Express is to up its public share of 18.97 per cent to at least 25 per cent to comply with India's minimum shareholding requirements in a buyout from its majority shareholder Deutsche Post DHL, which owns 81 per cent.

DHL Express shipments will continue to be picked and delivered by the all-cargo airline at 550 locations across India and connect them to the German carrier's international air cargo network.

The reduced share by DHL is to be completed by June 3, 2013 under a requirement of India's Securities Contracts Rules.