Tag: Sweden

Norway Post makes offer for OptiMail AB

Posted by | Nov 22, 2005 | |

The Norwegian postal services provider Posten Norge AS (Norway Post) announced on Tuesday (22 November) a public bid for all outstanding shares in the Swedish letter and logistics company OptiMail AB. The offer was made through Norway Post’s wholly-owned Swedish subsidiary CityMail Sweden AB. Norway Post currently controls 21.3% of the share capital of OptiMail AB. The offer amounts to SEK18.75 in cash per share, which represents a premium of 37% and values OptiMail at a total of SEK236m.

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Norway Post buys Swedish food logistics group Frigoscandia

Posted by | Nov 21, 2005 | |

Norway’s state-owned postal service, Norway Post, on Monday announced an agreement to buy Sweden’s Frigoscandia, a regional supplier of temperature-controlled transport of food and other products. Under the agreement, which requires Norwegian and Swedish regulatory approval, the companies withheld the purchase amount. Frigoscandia employs about 1,000 people at 24 special warehouse facilities in Norway, Sweden and Denmark. Its turnover in 2004 was more than 2 billion Swedish kronor, about USD245 million or EUR208 million.
“Norway Post is facing increased competition in a range of areas and this acquisition will strengthen our position in the domestic market too,” said Klaus-Anders Nysteen, acting head of Norway Post.

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Post office banking delivers

Posted by | Oct 31, 2005 | |

European banks have been slow to exploit the distribution capabilities of domestic post office networks, focusing instead on the expansion opportunities provided by organic growth and mergers and acquisitions (M&A), said Carl Holsters, member of the executive committee of the Belgian Post Group, speaking at VRL’s International Retail Banking Forum (IRBF) last month.

And with revenues from postal services shrinking, the contribution made by retail financial services is becoming increasingly significant, helping European post offices prepare for full deregulation of the postal sector in 2009, when they will lose their national mail monopolies.

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Posten Interim Report January-September 2005

Posted by | Oct 28, 2005 | |

Net sales totaled SEK 18,285m (18,215)
– Operating earnings totaled SEK 942m (784). Last year’s operating earnings included capital
gains of SEK 206m
– After-tax earnings totaled SEK 939m (884). Last year’s figure included a positive tax effect of
SEK 163m resulting from an accounting change
– Equity-assets ratio was 30 percent (24)
– Cash flows from operating activities totaled SEK 1,023m (557)

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Swiss Post establishes subsidiary in Sweden

Posted by | Oct 11, 2005 | |

The Swiss postal service group Swiss Post International said on Tuesday (11 October) that it was establishing a subsidiary in Sweden. The new company, SPI Sweden, will strengthen Swiss Post’s position on the Scandinavian market for direct marketing and daily distribution of corporate mail. The new subsidiary will be based on Swiss Post’s former franchise partner Mail & Logistics.

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