CVC fully exits bpost

The firm sold its remaining 19.7% stake in bpost – equivalent to 39.3 million shares – at €14.75 apiece.

The Belgian company floated on the Euronext in June with an initial stock price of €14.5 per share. CVC, which had held a 50%-minus-one stake in the state-backed postal service, sold a 28% stake and raised €812m. The IPO gave bpost a market cap of €2.9bn.

CVC's final exit from the company through its holding company Post Invest Europe was conducted via an accelerated bookbuilding. KBC Securities acted as lead manager, while Nomura International and UBS were appointed joint bookrunners.

The Belgian state currently owns a 50%-plus-one stake in the business, equivalent to slightly more than 100 million shares. Bpost currently trades on the Euronext under the ticker symbol "BPOST".

Previous investment
CVC first invested in bpost in January 2006 to the tune of €300m, according to unquote" data. In 2009, the firm bought Post Danmark's stake in the business for €373m.

Company
State-backed Belgian postal service bpost employs 30,000 staff and was known as De Post-La Poste until 2010. The company reported a turnover of €2.4bn for 2012, as well as an EBITDA of €502m.

People
Johnny Thijs is the CEO of bpost.

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• Topics
• Benelux
• Exits
• Consumer
• CVC Capital Partners
• Belgium
• Euronext