Brazilian authorities approve FedEx/TNT deal
Brazil’s Conselho Administrativo de Defesa Econômica (CADE) has given its unconditional approval of FedEx’s intended acquisition of TNT Express. Commenting on CADE’s decision, David Bronczek, President and CEO, FedEx Express, said: “We are very pleased with the unconditional approval from the Brazilian regulatory authority.
“Once the acquisition is closed, we look forward to the opportunities it will bring to our employees, customers and shareholders in Latin America and across the globe.”
FedEx and TNT have already obtained unconditional approvals from the United States and the European Union (EU) and, in a joint statement issued today (2 February), they said that are continuing “to work constructively with the regulatory authorities to obtain clearance of the transaction in the relevant jurisdictions, including China”.