Bird & Bird advised Netherlands-based and listed mail services provider PostNL on the acquisition of 50% of the shares in HIM Holtzbrinck 25 GmbH from Georg von Holtzbrinck through its German subsidiary Postcon. HIM Holtzbrinck 25 GmbH is the holding company for PIN Mail AG and mailworXs GmbH. The transaction effectively dissolved a joint venture of Postcon and Georg von Holzbrinck so that PostNL, through Postcon, will hold 100% of the shares in the joint venture company and (indirectly) 100 % in PIN Mail AG and 87 % in mailworXs GmbH. The transaction value remained undisclosed. Regulatory approval required for completion of the transaction was obtained.
PIN Mail AG is a last mile delivery service provider in the Berlin area. mailworXs GmbH orchestrates the so-called “Mail Alliance”, a cooperation network of alternative mail service providers in Germany.
The Bird & Bird team was led by Dr. Stefanie Orttmann, senior lawyer in the Corporate and M&A team of Düsseldorf partner Alfred Herda.
This has been the third corporate transaction in 2016 for client PostNL on which Bird & Bird Germany acted as legal advisor to PostNL.