PostNL completes sale and leaseback

PostNL has completed a sale and leaseback agreement on four sorting centres in The Netherlands to Dutch property business Urban Industrial.

The sale of the sites at Netherlands, located in Amsterdam, Rotterdam, Zwolle, ‘s-Hertogenbosch and the international sorting centre in The Hague have been done to allow investment in a number of different areas. Plans to do this were announced in October.

The postal operator will receive €150 million, a significant portion of which is to be invested in digitisation of its services in a number of key areas, and is to pay off some of its net debt down to around €97 million.