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TRANSPORTATION: InPost (INPOSTN; Ba2 Pos/NR/BB) rumoured ~£115m M&A

TRANSPORTATION
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Sky is carrying headlines that the co is in "advanced talks to acquire 70% shareholding in Menzies that it does not already own".

  • Menzies is a British logistics co - InPost took a 30% stake in it for £49.3m last year. Based on that price remaining stake would be £115m.
  • Co had £141m of cash on hand at the end of June that it could draw down on first (FCF is positive). Earnings are trending positively (Q2 EBITDA +32%) aided by strong parcel volume growth in Poland and international markets. It is helping it naturally delever - co reporting leverage down from net 2.7x to 1.95x at June.
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Sky is carrying headlines that the co is in "advanced talks to acquire 70% shareholding in Menzies that it does not already own".

  • Menzies is a British logistics co - InPost took a 30% stake in it for £49.3m last year. Based on that price remaining stake would be £115m.
  • Co had £141m of cash on hand at the end of June that it could draw down on first (FCF is positive). Earnings are trending positively (Q2 EBITDA +32%) aided by strong parcel volume growth in Poland and international markets. It is helping it naturally delever - co reporting leverage down from net 2.7x to 1.95x at June.