Lisbon, May 12, 2026 (Lusa) – CTT - Correios de Portugal (Portuguese postal service provider) concluded a partnership with DHL Ecommerce International Holdings on Tuesday, a deal generating a net cash inflow of €64 million, based on a market announcement.

CTT informed the Portuguese Securities Market Commission (CMVM) on Tuesday that they have completed the joint-venture partnership announced on 19 December 2024, following approval from the European Commission.

The transaction involves several components: CTT Expresso - Serviços Postais e Logística acquiring DHL Parcel Portugal, DHL acquiring 25% of CTT Expresso, and CTT acquiring 25% of Danzas (the sole shareholder of DHL Parcel Iberia).

"The net inflow for CTT will be €64 million," the company stated on Tuesday. The firm said that the "variation in the net inflow reflects standard adjustments regarding net debt and net working capital."

A new phase of the transaction will include call options exercisable after the 2027 and 2028 financial years. Based on 2027 accounts, CTT will hold the option to acquire 10% of Danzas, while DHL may acquire an additional 10% of CTT Expresso.

The statement details the formula for evaluating each company.

"The transaction is expected to generate significant operational and commercial synergies in Portugal and Spain, as well as corporate structure synergies" in areas such as processing facilities and transport networks, CTT reported.

The Portuguese postal service estimates that, within two to three years, annual synergies will increase EBIT (operating profit) by more than €35 million euros for the combined operations.

IM/RYOL // ADB. 

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