Post Office - New funding deal

List of all recent work 

Slaughter and May acted for Post Office Limited in relation to a new funding deal reached with HM Government.

The new funding is for a period of 3 years from end March 2012 and, together with the existing funding agreed for the financial year 2011/12, amounts to £1.335 billion. The funding is in respect of services of general economic interest which POL is entrusted by the Government to provide and it is linked to the implementation by POL of an agreed strategic plan without any programme of branch closures. Although the funding has been agreed between POL and the Secretary of State, it remains conditional on State aid clearance being received.

The new funding deal was announced by Vince Cable on 27 October 2010.

Jeff Triggs (partner), William Hogarth (associate)