TNT repurchases 18.2 million shares from the State of the Netherlands.
Today the State of the Netherlands announces it is selling all of its shares in TNT; 27.8 million ordinary shares to Citibank and UBS and 18.2 million ordinary shares to TNT. The repurchase by TNT represents a total consideration of nearly euro 600 million and 4.3 % of TNT’s outstanding ordinary share capital. The total sale by the State represents approximately 10.9 % of TNT’s outstanding ordinary share capital reducing the holding of the State of the Netherlands in TNT to nil.
Today’s repurchase by TNT is made part of the share buy back program that TNT announced on 6 November 2006. As a result of today’s transaction the total amount of the shares bought back until and including 20 November 2006 amounts to around 70 % of the announced euro 1 billion buy back. TNT intends to cancel all of the shares repurchased.
About TNT N.V.
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 around 127,000 people. In the first nine months of 2006, TNT reported euro 7.3 billion in revenues and euro 921 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.
