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The EP Group takeover of Royal Mail parent company International Distribution Services (IDS) has received final approval from the government.
Issued today (20 December), an announcement from the Chancellor of the Duchy of Lancaster gave notice of a final order approving the acquisition under the terms of the National Security and Investment Act 2021 (NSIA).
The approval is subject to the condition that Royal Mail continues to be able to provide services in support of UK national security.
The Chancellor of the Duchy of Lancaster – currently Pat McFadden MP – is the highest ranking minister in the Cabinet Office after the prime minister.
“The final order [to approve subject to conditions] is necessary and proportionate to mitigate the risk to national security relating to Royal Mail Group Ltd acting as a critical supplier of services provided to UK government departments which are in support of national security,” a government statement read.
EP Group and IDS have accepted the condition, and have said they now consider the NSIA condition to be fulfilled.
The offer for IDS is expected to be declared unconditional in the first quarter of 2025.
The deal was first called in for review in August 2024.
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