According to information obtained by News, International Distribution Services (IDS) and the company’s prospective owner, a car owned by billionaire Daniel Kretinsky of the Czech Republic, will pay the extravagant amount to banks and other professional services companies.
According to city officials familiar with the negotiations, an offer document set to be released on Wednesday will formally reveal the fee pool.
The banks that will split the money are BNP Paribas, JP Morgan, and Goldman Sachs.
Banks will owe tens of millions of pounds for their assistance in financing the transaction; the majority of the fees will be paid by Mr. Kretinsky’s EP UK Bidco.
The acquisition of IDS has brought the future of the United Kingdom’s universal postal service back into the public eye, although it is still pending a national security review.
Mr. Kretinsky has committed to several things regarding the upkeep of the service standards recommended by IDS as part of a continuous dialogue that is being facilitated by industry regulator Ofcom.
These also include keeping the company’s headquarters, branding, employment privileges, and UK tax residence.
The union head who speaks for 112,000 UK frontline workers of Royal Mail claims that their promises fall short.
Shareholders are anticipated to vote on the £3.6 billion takeover offer for IDS, which includes the overseas parcels division GLS, later this year.
