Deutsche Post World Net (DPWN) has announced plans to buy out minority shareholders in WilliamsLea, the leading global provider of Corporate Information Solutions, for GBP 199.4 million (EUR 254
million) to gain 100% ownership of the company. The group has also described plans to outsourcesmaller post offices as a service improvement.DPWN, which already owns some 66% of Williams Lea, has agreed to an unconditional recommendedcash offer for the remaining shares held by minority shareholders. Williams Lea said the agreedoffer for the minority B shares was for GBP 38 per share, thus valuing the total shares at GBP199.4 million. The offer is open until 18 April 2008.
London-based Williams Lea will remain as an independent entity, retaining a separate boardand its strong brand. In addition, Williams Lea’s Executive Management team have extended theiremployment, reinforcing their commitment to the company’s future strategy.
“The decision to increase our investment in Williams Lea is testament to the excellent growthrecord since we first acquired a stake in 2006. We have seen a strong and sustained period ofdevelopment in the market for corporate information management and we are committed to continue tosupport Williams Lea going forward,” said Bruce Edwards, DPWN management board member and CEO ofSupply Chain and Corporate Information Solutions.
Tim Griffiths, Group CEO at Williams Lea, commented: “We are delighted that Deutsche PostWorld Net has decided to increase its shareholding in Williams Lea. With this additional backing,we are confident that we will be able to continue growing the business and be in a strongerposition to meet the needs of our existing and future global customers.”
Williams Lea currently has over 10,500 employees worldwide. Clients include many leadingglobal organizations in the investment banking, legal, financial services, pharmaceutical,automotive and corporate sectors.
Meanwhile, Deutsche Post yesterday stressed that plans to hand over about 700 smaller postoffices out of the 850 outlets that it operates itself to partner businesses would improve customerservice. German media had reported that businesses such as supermarkets, bakeries and newsagentswould take over the small agencies by 2011, impacting on about 3,000 jobs at Deutsche Post.
Juergen Gerdes, board member for Mail, Parcel Germany and the post office network, stressed: “ The post office network is growing, not shrinking. Service will be better, not worse. Our offersare increasing, not decreasing.”
Deutsche Post extended its network of well over 12,000 outlets last year with 600 Postpoints,and would add more of these shop-in-shop outlets, Gerdes said. At the same time, the conversion ofDeutsche Post-run post offices into partner outlets enabled the company to reduce costs and extendopening hours, he emphasised.
Deutsche Post would also extend the number of “business post acceptance points” for corporatecustomers from 200 to 1,000 by the end of this year, he added. Moreover, it would continue tointroduce mail and parcel drop-off and collection machines across Germany.
