CTT, DHL complete joint venture, netting CTT EUR 64 million

  • CTT completed strategic joint venture with DHL, closing transaction first announced on Dec. 19, 2024.
  • Deal structure includes CTT Expresso purchase of DHL Parcel Portugal, DHL acquisition of 25% stake in CTT Expresso, CTT acquisition of 25% stake in Danzas, which owns DHL Parcel Iberia.
  • Net cash proceeds to CTT set at EUR 64 million, reflecting customary net debt and working capital adjustments.
  • Parties set phased call option framework, starting with mutual 10% options based on 2027 accounts; additional options up to 49% tied to 2028 consolidated JV EBIT exceeding EUR 96 million.
  • Synergies expected to lift normalized EBIT by more than EUR 35 million a year within 2-3 years.


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