Spain’s Seur shareholders close deal with La Poste over 21 pct stake

Shareholders holding 78.8 pct of logistics group Seur have closed a deal with state-owned French postal service La Poste over the acquisition of the Madrid franchise, representing 21.2 pct of the company, Cinco Dias reported Saturday, without naming a source.

JP Morgan and private equity firm Bridgepoint have also been interested in acquiring the stake, currently in the hands of Seur founder and chairman Justo Yufera.

According to Cinco Dias, however, Seur’s shareholders have decided to exercise their first right of refusal on the stake, valued at 120-130 mln eur, but are seeking financial support from La Poste unit Geopost.

Geopost is expected to control 60 pct of the Madrid franchise following the deal.