British private-equity firm CVC to sell the Belgian post equity

Recently, the Belgian postal confirmation, British private equity firm CVC has basically sold the shares of the company.
In 2005 CVC Capital and the Danish postal partnership to buy shares in 2009 Belgian post, also acquired the Danish postal company.
Post Invest Europe Sarl is an investment company owned by CVC. In the summer of 2013, the company in Brussels stock exchange in IPO, with the price of 14.5 euros per sold a 20.7% stake. In addition, the company also in Japan by the public offering and selling to the Belgian postal employees two channels to sell shares, the total raised about 815000000 euros.
Belgium postal confirmed, Post Invest Europe to sell its remaining 19.7% shares, 39000000 shares, and through private placement process sales, price 14.75 euros per share, to raise capital of 580000000 euros for CVC. This means, the company since 2005 300000000 euros to buy, sell nearly 1400000000 euros.
CVC on the Belgian post equity sales, will not affect the right of control the Belgian government shares of Belgian post.
9 former Belgian post 2013 monthly business grew 3.1%. Although the country cut subsidies, the company net profit still grew 39.7%, achieve 44900000 euro. The performance comes from the price and the parcel business growth, the second half of 2013 was especially.
Belgian Post said, companies in the first 10 months of after tax net profit was 200000000 euros, and 185000000 euros to investors allocate dividend. And after two months of this year's dividend payment plan, will be the 2014 annual general meeting of shareholders limited.
Investment in CVC years, the Belgian post from 2005 turnover of 2120000000 euros, pre tax profit was 81700000 euros, to the development of the 2012 turnover of 24100000000 euros, pre tax profit of 404000000 euros. In the meantime, company staff is also reduced from 36000 to more than 2.6 people.
MYEX Minya Express International
2014-01-14