September 3, 2018 / 7:17 AM / 4 months ago

UK's Royal Mail buys Canadian parcel delivery firm for C$360 mln

Sept 3 (Reuters) - Royal Mail Plc’s international arm GLS has bought Canadian parcel delivery company Dicom Canada from Chicago-based private equity firm Wind Point Partners for C$360 million ($275.7 million), the British post and parcels company said on Monday.

The deal, which takes Royal Mail into Canada, was funded through existing borrowing facilities and will be earnings and cash flow accretive in the financial year ending March 31, 2019, the company said.

$1 = 1.3056 Canadian dollars Reporting by Justin George Varghese in Bengaluru; Editing by Amrutha Gayathri

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