Poste Italiane completes acquisition of Nexive

According to Poste Italiane, the acquisition of the Italy based private postal operator Nexive has been formally completed. The Italian postal operator acquired the firm from PostNL and Mutares Holding under an agreement originally signed on the 16 November last year.

The sale was agreed for the entire share capital of Nexive was for €34.4 million based on an enterprise value of €50 million and a net debt of €15.6 million.

PostNL had developed Nexive into a successful postal operator in Italy over the years and Poste Italiane’s acquisition was a step to consolidating its business in its own country.