La Poste acquires 12.8% of Seur
La Poste, the French post office, has paid 90m euros for a 12.8 per cent stake in Seur, the Spanish parcel delivery group, up until now an entirely private company. The operation was carried out via Geopost, La Poste’s urgent transport subsidiary. La Poste is also acquiring 60 per cent of Seur’s Madrid franchise, its largest. UK investment bank Rothschild acted as advisor.
Julian Recuenco, owner of Seur’s Seville and Malaga franchises, is the second largest shareholder after La Poste, with 6.2 per cent. The operation still has to be approved by the competition authorities, but Ramon Mayo, executive vice chairman of Seur, does not expect any problems in this regard.
Original article by Javier Romera
Abstracted from Expansion
