Chinese investment for Italian Post
Poste Italiane and Cloud Seven Holding recently inked an agreement to form an e-commerce partnership. The Italian group acquired 51% of the shares of Sengi Express, a company based in Hong Kong that specialises in providing logistics solutions for Chinese e-commerce companies active on the Italian market.
Sengi's pro-forma turnover amounted to approximately EUR 80 million in 2020. The transaction is expected to be finalised by the end of the first quarter of 2021. The Chinese investment is a new chapter for the Poste Italiane Group. (sh)