Tag: La Poste

La Poste decided to investigate buying a 52pct stake in Spanish express parcels company Seur by exercising its right to counter a rival bid, French media reported. This would give it a controlling holding of nearly 72pct in the company.

The decision follows the August 1 offer by British financial investor Doughty Hanson of EUR 520 million for a 52pct stake in Seur that a group of small shareholders put up for sale as a packet. The French postal operator, which already holds 19.6pct in Seur through its express holding GeoPost, has the right to match or outbid any offer for Seur shares under an existing agreement.

The French postal operator said in a statement that GeoPost had been authorised by La Poste’s supervisory board to exercise its right to pre-empt the other bidder and it would now make “deeper investigations” in the coming months, according to an AFP report. La Poste would take a decision on the final conditions for this potential acquisition based on these investigations, it added.