PostNL will receive proceeds of €150 million from the sale-and-lease-back transaction. The related book gain of around €61 million will be labelled as a one-off result and as such will not impact normalised EBIT and normalised comprehensive income. The net proceeds will improve the free cash flow for 2020. Taking into account the long-term lease arrangements related to this transaction, the impact on the adjusted net debt position will be approximately €97 million, improving the leverage ratio.
The improved financial position allows us to accelerate the digitalisation of our company in a number of key areas as part of the transformation of PostNL.
The transaction is expected to close in November 2020, subject to customary closing conditions.