TNT and Norbert Dentressangle conclude deal for the majority of TNT Logistics France’s logistics and part of its transport business
TNT and Norbert Dentressangle announced today that they have signed an agreement for the sale of the majority of the contract logistics activities and part of the transportation activities of its French subsidiary TNT Logistics Holdings SAS. This sale is effective from today.
This sale includes in particular the businesses of Aixor, Cemga, Copal, Nord Mendy, the Clermont-Ferrand site of Nicolas and the shares of Les Routiers Francais and Barco. TNT branding will be removed progressively from the facilities, before October 31st 2006.
As announced on October 18th, offers have been received for most of the remainder of the transportation business of the TNT French Logistics business unit and discussions are continuing. As previously disclosed, the expected negative financial impact relating to the sale and refocus of the French Logistics business unit is to be up to EURO 140 million pre-tax, and to be booked largely in 2005.
Neither the French Express business unit of TNT nor its French Freight Management business are involved or impacted by this deal.
TNT sells most French logistics ops to Norbert Dentressangle
AFX International
1.12.05
TNT NV said it agreed to sell most of the contract logistics activities and part of the transportation activities of its French subsidiary TNT Logistics Holdings to Norbert Dentressangle.
Norbert Dentressangle said it is acquiring 25 warehouses, 240 lorries and 336 trailers. The businesses acquired have annual sales totalling more than 130 mln eur and employ 1,514 people, it said.
The deal will make Norbert Dentressangle the number two logistics company in France and will have a favourable impact on 2005 net profit because of a ‘badwill’ effect as the operations are loss making.
From 2006, the businesses should be near breakeven and from 2007 should achieve a profit margin close to the group’s average, it said.
Neither company disclosed the purchase price.
TNT put its French Logistics activities up for sale earlier this year as part of a restructuring of its Logistics division in the country, and today the company repeated it expects the restructuring will lead to a pretax charge of up to 140 mln eur in the full year.
Discussions are continuing with regard to offers received for most of the remainder of the French logistics’ transportation business, TNT noted.
