Belgian De Post/La Poste Plans IPO in 2009

Belgian postal services company De Post/La Poste plans to go public in 2009, it was reported on October 13, 2005.

Danish postal service Post Denmark and UK investment fund CVC Capital Partners will invest 300 mln euro (USD359.7 mln) in De Post/La Poste in exchange for a 50 pct stake minus one share. Thus the Belgian government will continue to be the majority owner of De Post/La Poste.

Under the deal, Post Denmark may sell its stake in De Post/La Poste not earlier than in five years’ time, while CVC Capital can offer its stake a year earlier but only through an IPO. Post Denmark has a pre-emptive right on CVC Capital shares, while the Belgian government has the pre-emptive right on the consortium’s stake, if it is put up for sale in five years’s time.