As part of the transaction PostNL will retain 17.5% of the shares in Whistl and will continue supporting the business as a shareholder. The transaction is expected to negatively impact PostNL’s consolidated equity by between €20 and €25 million.
The transaction is expected to close later this year. The finalisation is subject to a number of conditions, including the financing of the management buy out.
Whistl is the second largest postal operator in the UK with business divisions down stream access (DSA) and international, door drop media, packets and parcels and logistics.Source: PostNL