European commission approves sale of TNTs logistics division
TNT N.V. today announced that the European Commission has granted clearance under the EU Merger Regulation to the acquisition of the logistics division of TNT by Apollo Management, L.P. TNT currently anticipates that the acquisition will be completed before the end of the year.
About TNT
TNT provides businesses and consumers worldwide with an extensive range of services for their mail and express delivery needs. Headquartered in the Netherlands, TNT offers efficient network infrastructures in Europe and Asia and is expanding operations worldwide to maximize its network performance. TNT serves more than 200 countries and employs over 128,000 people. In the first half of 2006, TNT reported Euro 5.3 billion in revenues and Euro 671 million EBIT from continuing operations. TNT N.V. is publicly listed on the stock exchanges of Amsterdam and New York. TNT recognizes its social responsibility, and has formed partnerships with the United Nations World Food Programme and the United Nations Environmental Programme to fight hunger and pollution in the world.
