Swiss Panalpina not interested in Dutch TNT Logistics Division
Swiss logistics company Panalpina Welttransport (Holding) AG is not interested in the takeover of the Logistics division of Dutch mail and logistics company TNT NV, Panalpina spokesman Martin Spohn said on December 14, 2005.
We are not considering such large acquisition, which is not in line with our strategy to take over small specialised companies, Spohn added.
TNT announced its intention to divest the Logistics division earlier in December 2005. The division generates an annual revenue of 3.4 bln euro ($3.977 bln).
Swiss logistics company Kuehne & Nagel International has recently said, a large acquisition was improbable in the near future because the company was engaged with the integration of a large acquisition in France.
Analysts mentioned private equity companies and other large logistics companies, including U.S. companies United Parcel Service and Fedex, as potential buyers of TNT Logistics division.