Press releases | Corporate and M&A, Competition, Incentives & Remuneration | 29 Sep 2016

UK Mail to be acquired by Deutsche Post for approximately £242.7 million

Overview

Travers Smith LLP has advised UK Mail Group plc, one of the largest integrated mail and parcel operators within the UK, in relation to the recommended cash offer made by Deutsche Post AG to acquire the entire issued and to be issued ordinary share capital of UK Mail.

UK Mail was founded in 1971 by the current Chairman, Peter Kane, originating as a taxi firm in Harrow and which has now evolved into a national network offering same day courier and overnight parcel delivery both locally and worldwide with more than 50 sites, 2,800 employees and 2,400 vehicles.

The offer values the entire issued ordinary share capital of UK Mail at approximately £242.7 million.

The Travers Smith team was led by head of corporate Spencer Summerfield with support from senior corporate associate Jamie Lumsden and corporate associate Ben Hanglin. Specialist competition advice was provided by head of competition Nigel Seay. Employee incentive share scheme advice was provided by head of employee incentive Mahesh Varia.

Linklaters provided legal advice to Deutsche Post. Other advisers on the transaction included Investec and Deutsche Bank who acted as financial advisers to UK Mail and Deutsche Post respectively.

Spencer Summerfield commented: "We are pleased to have assisted UK Mail Group on this transaction, which marks a significant new phase in the development of the business."