Seur wants alliance with Geopost to counter Bridgepoint and JP Morgan Partners

Management of Seur, the Spanish urgent delivery group, has reached an agreement with Geopost, logistics subsidiary of French post office La Poste, in order to prevent investment groups Bridgepoint and JP Morgan Partners from entering its shareholding.

In early April the latter two concluded an agreement to buy the Madrid franchise and 21.2 per cent of the group from Justo Yufera, founder of Seur. They subsequently increased their bid to 100 per cent of the Seur group. On Friday shareholders will decide whether to exercise their right to match the Bridgepoint / JP Morgan Partners bid via the agreement with Geopost.