Slovenian Post will expand its logistics activities dramatically with the acquisition of leading Slovenian freight company Intereuropa for a reported €105 million.
Once its biggest-ever acquisition is completed, the state-owned postal company is poised to generate well over a third of its revenues from parcel and logistics activities in future. In 2018, the postal operator had revenues of about €250 million while Intereuropa generated turnover of about €160 million.
Pošta Slovenije announced on Friday that it had signed a contract with a consortium of several banks to buy a 72% stake in Intereuropa. The price was not disclosed but local media put the price at €105 million. The postal company’s bid was apparently preferred to that of British logistics company Xpediator, which said last month that it was pulling out of the sale process.