Dasburg, DHL cut deal

Dasburg, DHL cut deal

Copyright 2003, Traffic World, Inc.

An investor group led by DHL Airways Chairman and Chief Executive Officer John Dasburg will purchase all of DHL Airway''s outstanding stock, the company announced May 21. Dasburg said that the transaction will further solidify the airline''s U.S. control and management. Terms of the transaction were not disclosed.

The other members of the investment group are Richard C. Blum, chairman of San Francisco-based Blum Capital Partners, L.P., a private equity firm, and Michael R. Klein, a Washington, D.C. business executive and lawyer who is co-founder and chairman of the board of directors of CoStar Group, Inc.

Dasburg currently owns 5 percent of the airline. The remaining shares of DHL Airways are being purchased from Idaho private investor William A. Robinson and from DHL Holdings (USA) Inc.

The prospective owners expect to complete the acquisition of DHL Airways by June 30. The acquisition is subject to Department of Transportation approval.