Dutch TNT and UK Royal Mail in race for ABX Belgium Distribution
Dutch mail and express deliveries group TNT NV and UK rival Royal Mail are the two remaining bidders for ABX Belgium Distribution, Belgian De Tijd newspaper said on November 18, 2006.
The owner, Belgian railways SNCB/NMBS, aims to complete the deal within three weeks.
The EU competition authorities obliged NMBS to sell the unit by the end of 2006.
ABX Belgium Distribution is a market leader in the domestic parcel deliveries market. The unit has an annual revenue of 90 mln euro (USD 115.5 mln) and a 700-strong workforce. Furthermore, 650 trucks of third parties are running for the company.
ABX Belgium Distribution was earlier part of ABX Logistics Worldwide SA/NV (ABX), which was sold by NMBS to UK private equity firm 3i Group Plc and the management in August 2006. The deal included air cargo, sea cargo, customs, logistics and international transport activities of ABX Belgium.
