PostNL and the management of Whistl have completed the management buy out (MBO) of Whistl. Since the announcement of the MBO on July 30 2015 (see previous news story), parties have reached agreement on the outstanding conditions, including the financing.
Whistl is the second largest postal operator in the UK with business divisions down stream access (DSA) and international, door drop media, packets and parcels and logistics. This MBO follows PostNL’s strategic review of its activities in the UK. As part of the transaction PostNL will retain 17.5 per cent of the shares in Whistl and will continue supporting the business as a shareholder.