Whistl MBO closed

PostNL and the management of Whistl have closed the management buy out (MBO) of Whistl. In a statement issued today (23 October), PostNL commented: “Since the announcement of the MBO on July 30 2015, parties have reached agreement on the outstanding conditions, including the financing.

“This MBO follows PostNL’s strategic review of its activities in the UK. As part of the transaction PostNL will retain 17.5% of the shares in Whistl and will continue supporting the business as a shareholder.”

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.

Whistl launched an end-to-end (E2E) UK mail delivery service in 2012, but terminated the service in June this year.