LDC and PostNL in TNT Post joint venture

Listed on the Euronext Amsterdam, PostNL owns part of TNT, following its demerger from TNT Express in 2011.

The transaction saw LDC and PostNL each take stakes in TNT Post UK, and will provide investment to support the rollout of the company's E2E services across the UK. PostNL secured a 40% stake.

The joint venture aims to offer increased choice in the postal market following the recent listing of Royal Mail.

Company
TNT Post UK delivers letters, packets and parcels. Its E2E offering has been trialled in London and more recently in London. The new independent group will be led by the division's current management team.

TNT's UK operations were established in 2003 and granted a licence to handle bulk mail deliveries following postal deregulation in 2004. The service reaches 26 million households and processes more than 22% of all mail received in the UK. TNT Post UK handles more than 3.6 billion items of mail each year for companies including Barclays, BT, Centrica, npower and Sky.

People
Marcel Krom is an executive committee member of PostNL. Managing director Yann Souillard and investment director Alex Clark led the deal for LDC's Reading team.

Advisers
Equity – Shoosmiths (Legal); Sullivan & Cromwell (Legal); HMT Corporate Finance (Corporate finance).

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• Topics
• UK / Ireland
• Buyouts
• LDC
• United Kingdom