PostNL announces that it has priced the sale of part of its stake in TNT Express at an offer price of € 6.20 per share, resulting in gross cash proceeds of € 507 million. The partial disposal consisted of a private placement to institutional investors of 81,743,614 TNT Express ordinary shares (approximately 15% of the outstanding share capital of TNT Express).
The proceeds of the Placement will, in accordance with earlier statements, be used to strengthen PostNL's balance sheet via a reduction of outstanding debt.
Following completion of the Placement, PostNL's remaining stake will comprise 80,386,421 TNT Express ordinary shares, equivalent to approximately 14.8% of the outstanding share capital TNT Express.
Deutsche Bank AG, London Branch and Goldman Sachs International acted as Joint Bookrunners on behalf of PostNL on the Placement. ING and Rabobank International acted as Co-Lead Managers.
BofA Merrill Lynch, acting through Merrill Lynch International, acts as financial advisor to PostNL on the Placement.
These materials may not be published, distributed or transmitted in the United States, Canada, Australia or Japan, or any other jurisdiction in which the distribution or release would be unlawful. These materials do not constitute an offer of securities for sale or a solicitation of an offer to purchase securities (the "Shares") of TNT Express N.V. (the "Company") in the United States or any other jurisdiction.
The Shares of the Company may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended (the "Securities Act"). The Shares of the Company have not been, and will not be, registered under the Securities Act.
PostNL is the inventive partner in the world of sending and receiving. We have been so for 200 years already. We are primarily active in the fields of mail, parcels and e-commerce, but we also offer services in the areas of data and document management, direct marketing and fulfilment. Outside the Netherlands, we are active in Germany, the United Kingdom, Italy, Belgium and Luxemburg. PostNL employs a total of more than 59,000 people. In 2013 our revenues reached € 4.3 billion.
We like to stay ahead of things. We are the most modern postal company in the world. We are proud of that. As the first listed postal company, we are an example to the rest of the world in automatic letter sorting. And our innovative parcels network is completely adapted to the wishes of web retailers.