TNT takes over TNT Arvil in Italy
The Dutch express service provider TNT is expanding in Italy. Ectoras srl, the Milan-based minority shareholder in its Italian joint venture TNT Arvil, has given notice of the exercise of its option to sell its 49% shareholding to TNT Logistics Holding Italy srl. The transfer will make TNT Logistics Holding Italy the sole owner of TNT Arvil. The joint venture was originally formed to provide logistics services to automobile manufacturer Fiat.