TNT sells Logistiques Ladoux; 90 pct of TNT Logistics France now sold
TNT NV said it has agreed to sell its Logistiques Ladoux business to French cargo transport operator Malherbe for an undisclosed amount.
The disposal, together with the sale last month of TNT’s contract logistics activities and part of the transportation activities of its French subsidiary TNT Logistics Holdings to Norbert Dentressangle, represents about 90 pct of the TNT Logistics France unit.
As previously announced, the expected negative financial impact relating to the sale and the refocus of the French logistics business will be up to 140 mln eur before tax, to be booked largely in 2005.
Neither the French Express business unit of TNT nor its French Freight Management business are involved in or impacted by this sale.
TNT sells Logistiques Ladoux
Birmingham Post, First, Sec. Business, p 15 01-03-2006
Dutch mail and logistics company TNT said yesterday that it had completed the sale of its Logistiques Ladoux operations to French cargo transporter Malherbe.
TNT, which has major operations in the West Midlands – the region is home to TNT’s UK headquarters in Atherstone as well as the largest UK depot at Network Park in Saltley, Birmingham – confirmed that the sale would result in a pretax charge of 140 million euros (pounds 114 million).
TNT had closed a deal to sell a big part of its loss-making French logistics arm to Norbert Dentres-sangle in December.
The sale to Malherbe, together with the disposal to Norbert Dentressangle, represents 90 per cent of the TNT Logistics France business unit.
TNT, whose logistics business is the world’s second largest after Britain’s Exel, has said its French transport activities were suffering from high wage costs compared with competitors from new European Union member states that operate in France under the rules of their home countries.
The division’s loss was 17 million euros (pounds 11.7 million) in the first half of 2005 on revenue of 117 million (pounds 80.6 million).
When it announced the planned sale in July, the firm said it would concentrate on complex supply-chain services for the automotive industry in France, where added value is higher.
Dutch TNT To Sell French Logistiques Ladoux to Malherbe
Dutch News Digest 01-03-2006
Dutch mail and logistics company TNT NV has agreed to sell Logistiques Ladoux, part of its French subsidiary TNT Logistics Holdings SAS, to French transport and logistics group Malherbe Transports, TNT said on January 2, 2006.
The current deal and an agreement, signed in early December 2005, to sell most of TNT’s French contract logistics and part of the transportation operations to Norbert Dentressangle SA comprise some 90 pct of TNT Logistics France.
According to a spokesman, TNT expects to sell the remaining 10 pct at the beginning of 2006.
TNT did not announce the price of the deal but reiterated that it expected to book a pre-tax loss of up to 140 mln euro ($166.3 mln). The larger part of the sum will be booked for 2005.
TNT said in December 2005, it had decided to put most of its TNT Logistics activities up for sale. The activities to be sold generate an annual revenue of 3.4 bln euro ($4.039 bln).
www.dft.nl
Source: De Financiele Telegraaf
