Deutsche Post DHL’s purchase of UK Mail has completed, meaning the postal operator is now fully owned by the German company.

DHL announced its intention to buy UK Mail  for £242.7m in September, in a bid to offer its domestic customers a stronger cross-border parcel delivery service.

Prior to the deal, UK Mail had had a turbulent recent past, after it bought incompatible sortation technology for its new Coventry hub.

This resulted in an 80% plunge in pre-tax profit after the event, and the steppng down of long-serving MD Guy Buswell.

Last week UK Mail and Deutsche Post DHL announced that the acquisition had been given the green light by the European Commission, and this morning said that the deal had become effective.

UK Mail shareholders will receive 440 pence per share, as well as being entitled to a 5.5p dividend per share.

Jürgen Gerdes, Deutsche Post DHL group board member for post, eCommerce parcel, said:  “This acquisition will deliver additional value for the customers of both our companies: UK Mail customers will receive enhanced access to consumers across Europe via our world class parcel network and DHL Parcel customers will benefit from a seamless, integrated delivery service for their cross-border shipments to and from the UK.

“The acquisition further expands the presence of Deutsche Post DHL Group in the UK, Europe’s largest e-commerce market and builds on our leading global position in e-commerce logistics.”

UK Mail chairman Peter Kane, added: “We are delighted to become part of Deutsche Post DHL Group, the world’s leading and one of the most respected logistics groups.

“We, and our customers, will benefit from their global reach and expertise and we will be able to offer their global customers a seamless and highly sophisticated service within the UK market.”