Post NL announce completion of management buy out of Whistl

PostNL and the management of Whistl have announced the closure of the management buy out (MBO) of Whistl. Since the announcement of the MBO on July 30 2015, parties have reached agreement on the outstanding conditions, including the financing.

This MBO follows PostNL’s strategic review of its activities in the UK. As part of the transaction PostNL will retain 17.5% of the shares in Whistl and will continue as a shareholder in the business.

Whistl’s business divisions in the UK provide downstream access and international door drop media, packets and parcels and logistics.