Seur delays plan to list after GeoPost takes stake in express transport firm
Leading express transport company Seur said Monday that it has put off
plans to seek a stockmarket listing for at least three or four years
following the acquisition of a 12.72 percent stake in the company by
French group GeoPost.
Seur was initially planning to float the company next year.
Seur executive vice-president Ramón Mayo said: “Seur is not planning a
stockmarket float within a period of three or four years, but will study
then whether or not this possibility is convenient for the company in
the future. Mayo said if Seur does eventually seek to list its shares it
will do so accompanied by GeoPost.
Geopost acquired its stake in Seur last week after an operation by
company chairman and founder Justo Yúfera to sell his 21.4-percent stake
in the transport firm to risk-capital funds managed by JP Morgan and
Bridgepoint fell through. Seur’s capital is held by 62 franchise
holders.
GeoPost chairman Paul Marie Chavanne said that the French group would be
willing to raise its stake in Seur further if other franchise holders
wanted to sell their holdings.
