Deutsche Post World Net to increase stake in Williams Lea03/17/2008, 06:00 PM CET
- Agreement reached to acquire shares from minority holders
- Increased contribution supports long-term growth strategy
Bonn: Deutsche Post World Net, the world's leading logistics group, announced today the intention to increase its investment in Williams Lea, the leading global provider of Corporate Information Solutions.
Deutsche Post World Net, which already owns some 66 percent of the business, has agreed to an unconditional recommended cash offer for the remaining shares held by minority shareholders. In addition, Williams Lea's Executive Management team have extended their employment, reinforcing their commitment to the company's future strategy.
"The decision to increase our investment in Williams Lea is testament to the excellent growth record since we first acquired a stake in 2006. We have seen a strong and sustained period of development in the market for corporate information management and we are committed to continue to support Williams Lea going forward," said Bruce Edwards, Deutsche Post World Net management board member and CEO of Supply Chain and Corporate Information Solutions.
With the long-term backing of Deutsche Post World Net, Williams Lea will continue to invest in the Business Process Outsourcing business, which provides expert management of all the printed and digital information organizations and companies share internally and with customers and business partners. London-based Williams Lea will remain as an independent entity, retaining a separate Board and its strong brand.
Tim Griffiths, Group CEO at Williams Lea, commented, "We are delighted that Deutsche Post World 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 stronger position to meet the needs of our existing and future global customers."
Williams Lea currently has over 10,500 employees worldwide. Clients include many leading global organizations in the investment banking, legal, financial services, pharmaceutical, automotive and corporate sectors.
The offer will be open from the date of this announcement until 18 April 2008.