PostNL provides further update on use of expected proceeds sale stake in TNT Express

The Hague – Following recent publications on the news wires, PostNL provides a further update on the use of the expected proceeds from the sale of the stake in TNT Express.

PostNL has signed an irrevocable undertaking with UPS on 19 March 2012 to tender all TNT Express shares held by it under the offer of UPS subject to customary undertakings and conditions. If and when this offer will be declared unconditional, the cash proceeds of this sale are expected to be approximately €1.5 billion.
 
PostNL intends to use the expected proceeds, amongst others, as follows:
 
  1. PostNL debt reduction according to its financial policy.
  2. Restore cash dividend according to its dividend policy.
  3. Investment in further portfolio extension.
  4. De-risking pensions and / or distributing excess cash to shareholders according to its dividend policy.