TNT signs final agreement for acquisition Hoau Group

TNT today signed the Equity Transfer Agreement with Hoau Group in Shanghai, People’s Republic of China, to acquire its nationwide road transport and freight business.

The signing of the agreement (comparable with a Sale and Purchase Agreement) follows the signing of a Letter of Intent, announced on 6 December 2005 and the Framework Agreement signed on 27 February 2006. Both parties expect to complete the transaction early 2007, subject to approval of the government of the People’s Republic of China.

With over 1100 depots and 56 hubs in China, the acquisition of Hoau offers TNT comprehensive road coverage in China and is in line with TNT’s strategic focus on integrated domestic and international networks.