ANA Group Delivery Firms To Merge

TOKYO (Nikkei)--Overseas Courier Service Co. said Friday that it will acquire All Express Corp., another All Nippon Airways Co. group international parcel delivery firm, on Aug. 1.

OCS aims to cut costs by merging overlapping operations and seeks to expand sales and delivery networks.

ANA held a 34.5% stake and Nikkei Inc. had a 27.2% interest in OCS as of the end of March. Meanwhile, ANA owned 54% of All Express, and Nippon Express Co. and Kintetsu World Express Inc. each held stakes of 22%.

ANA will continue to be the largest shareholder in OCS after the merger and Nikkei is expected to remain the No. 2 stockholder.

(The Nikkei June 27 morning edition)