La Poste subsidiary Geopost increases stake in Spain's Seur

摘要

The French mail service group La Poste has increased its shareholding in the Spanish CEP service provider Seur by 4% to over 20% through its CEP subsidiary Geopost. The move was effected by taking over five more Seur franchises in Albacete, Cordoba, Palencia, Teruel and Cartagena. Seur director Manuel Valle said that this would further strengthen the long-term strategic partnership between Seur and Geopost. Last year the UK investment firm Doughty Hanson had caused a stir by announcing that it would acquire a majority stake in Seur. The French state-owned postal service provider reacted by securing a purchase option for an additional 52% of Seur at a price of EUR 520 million. Geopost's management decided to delay acquiring a majority stake in Seur at the beginning of this year, on account of the gravity of the economic crisis (see ITJ 7-8/2009, page 32).