UK’s Royal Mail buys Canadian parcel delivery firm for C$360 million

UK’s Royal Mail buys Canadian parcel delivery firm for C$360 million

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(Reuters) – Royal Mail Plc’s (RMG.L) worldwide arm GLS has purchased Canadian parcel supply firm Dicom Canada from Chicago-based non-public fairness agency Wind Level Companions for C$360 million ($275.7 million), the British put up and parcels firm mentioned on Monday.

Royal Mail vans are parked within the Leytonstone put up workplace depot in London, Britain early July 6, 2017. REUTERS/Russell Boyce

The deal, which takes Royal Mail into Canada, was funded by way of present borrowing services and might be earnings and money move accretive within the monetary 12 months ending March 31, 2019, the corporate mentioned.

Reporting by Justin George Varghese in Bengaluru; Enhancing by Amrutha Gayathri

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