Scandanavian Postal merger announced

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Denmark and Sweden have signed an agreement to merge their national postal services

An agreement formalising the merger of the Danish postal service Post Danmark with its Swedish neighbour, Posten Sverige, was signed yesterday by the relevant ministries. The merger is still subject to approval by the competition authorities.

The new postal service will be jointly owned by the Danish and Swedish states, with shares being divided 40 and 60 percent respectively. The board will be divided equally between the two countries.

As part of the deal, private equity firm CVC Capital Partners sold its 22 percent stake in Post Danmark to the Danish state – conditional on the merger being completed. A statement from the Transport Ministry said the merger would have left CVC as a minority stakeholder, which clashed with the investment policy of the equity firm.

As part of the deal, Post Danmark sold its entire holdings in the Belgian postal company De Poste to CVC for €373 million.

Danish Transport Minister Lars Barfoed said that he was pleased the agreement had been reached on the merger terms after a long treatment process.

‘I’m convinced that the two companies will be strengthened by this merger and the citizens of Denmark and Sweden will also have access to a high quality postal service with competitive prices.’

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http://www.cphpost.dk/business/business ... unced.html

Denmark and Sweden have signed an agreement to merge their national postal services

An agreement formalising the merger of the Danish postal service Post Danmark with its Swedish neighbour, Posten Sverige, was signed yesterday by the relevant ministries. The merger is still subject to approval by the competition authorities.

The new postal service will be jointly owned by the Danish and Swedish states, with shares being divided 40 and 60 percent respectively. The board will be divided equally between the two countries.

As part of the deal, private equity firm CVC Capital Partners sold its 22 percent stake in Post Danmark to the Danish state – conditional on the merger being completed. A statement from the Transport Ministry said the merger would have left CVC as a minority stakeholder, which clashed with the investment policy of the equity firm.

As part of the deal, Post Danmark sold its entire holdings in the Belgian postal company De Poste to CVC for €373 million.

Danish Transport Minister Lars Barfoed said that he was pleased the agreement had been reached on the merger terms after a long treatment process.

‘I’m convinced that the two companies will be strengthened by this merger and the citizens of Denmark and Sweden will also have access to a high quality postal service with competitive prices.’

Is it called DEN/den after the first three and last three letter's of their countries or do they do DEN/den just like a 60's pop song!.