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Deutsche Post seeks buyer for UK subsidiary Williams Lea -source

Reuters - UK Focus

DUESSELDORF, Germany, April 21 (Reuters) - Deutsche Post DHL Group is seeking a buyer for its British outsourcing subsidiary Williams Lea, a person familiar with the matter said on Friday, adding that the process was at an early stage.

Deutsche Post (IOB: 0H3Q.IL - news) bought Williams Lea in 2006. The company made revenue of 1.41 billion euros ($1.51 billion) in 2014, the last year for which Deutsche Post broke out separate figures for the business.

The Frankfurter Allgemeine Zeitung, which first reported the news, said the transaction could be worth several hundred million euros but less than a billion.

The newspaper said independent investment bank Moelis had been hired to approach potential buyers.

Deutsche Post and Moelis declined to comment. ($1 = 0.9353 euros) (Reporting by Matthias Inverardi; Additional reporting by Dasha Afanasieva; Editing by Georgina Prodhan and Victoria Bryan)