Doughty Hanson loses battle over SEUR

UK fund Doughty Hanson has received EUR1m in break up fees after its bid for courier SEUR was matched by the incumbent shareholder, Geopost, a subsidiary of French postal service La Poste. Geopost decided to use their first right of refusal of a take over bid matching the terms of the acquisition and the price.

Doughty presented their EUR500m offer in early August, valuing the company at 10x EBITDA, considerably above sector ratios which usually range between 7-8x EBITDA.SEUR reported a EUR665m turnover last year and forecasts a 6.5% increase for 2008.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Industry
• Southern Europe