Royal Mail’s sister business GLS to buy 20% stake in Greece’s ACS for $80 million

(Reuters) – Parcel services firm GLS, the international sister business to the UK’s Royal Mail, has agreed to buy a 20% stake in Greece’s ACS for 74 million euros ($80.06 million), their parent International Distribution Services said on Monday.

Under the deal GLS will retain the option to acquire the remaining 80% of ACS’ share capital within two years, IDS added.

($1 = 0.9243 euros)