Tag: TNT

TNT shareholders approve logistics sale

Posted by | Sep 29, 2006 | |

Dutch mail firm TNT’s shareholders approved on Friday the 1.48 billion euros (USD1.88 billion) sale of its underperforming logistics business to U.S.-based private equity fund Apollo Management.
Proceeds from the sale, announced a month ago, will mostly be returned to shareholders via a share buyback.
The deal was approved with 99.9 percent. Roughly 34 percent of capital was present.
TNT announced last December its intention to sell its logistics activities to concentrate on mail and express delivery, which has 36,000 employees and represents about a quarter of group revenue.

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TNT aims for 10% share of German Light Mail Market

Posted by | Sep 29, 2006 | |

TNT, the Dutch mail and parcel delivery service provider, is aiming for a 10 per cent share of the German light mail delivery market by 2012, together with turnover of around 1bn euros. The German postal market is to be fully deregulated with effect from the end of 2007, when the country’s former monopolist Deutsche Post will lose its remaining monopoly, in the area of light mail. TNT has more than trebled its turnover in Germany in the course of the past two years, and estimates turnover of 200m euros on that market for 2006. It is concentrating on business customers rather than private mail, but, with the ending of the mail monopoly in Germany, it plans to collaborate with Hermes, the parcel subsidiary of German mail order group Otto, to provide a private postal service. Hermes holds a stake of around 20 per cent in the German light mail subsidiary of the Dutch group.

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TNT re-emerges as possible takeover target

Posted by | Sep 29, 2006 | |

Dutch mail and logistics company TNT has become the subject of renewed takeover speculation after the European Union’s highest court ruled that the Netherlands is breaking the law in owning a “golden share” in the global mail and express delivery company.

The European Court of Justice said the government’s stake, which gives it veto power over TNT’s mergers and acquisitions, is incompatible with the free movement of capital in the 25-nation EU.

The Dutch government has held the stake since the 1980s when the former state-owned post and telephone company was privatized and split into a telecommunications group and a mail operator. The company subsequently expanded into logistics and express delivery.

TNT shares rose 3 percent immediately after the court ruling on speculation that the decision would make it easier for companies such as UPS, FedEx and Deutsche Post to take over the group. La Poste, France’s state-owned mail monopoly, also has been named as a likely suitor.

TNT was at the center of takeover speculation last November when Cornelius Geber, a former executive of Swiss logistics giant Kuehne & Nagel, said he was trying to organize a consortium to launch a bid.

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Express couriers sign up to lobby group

Posted by | Sep 29, 2006 | |

New Zealand’s leading global express courier companies have united to form a new group to work with government regulatory agencies on issues facing the industry.

The Conference of Asia Pacific Express Carriers NZ will be affiliated with similar organisations Capec Asia based in Singapore and Capec Australia. The founding members are TNT, DHL, FedEx and UPS.

Chairman and TNT managing director Ruud Smeets said group members had in the past consulted together and individually with bodies such as Customs and MAF but establishment of Capec would give them a single industry voice.

“International trade is one of the pillars of New Zealand’s economy and our key objective is to ensure the flow of goods is not hindered by government regulations and bureaucracy,” Mr Smeets said.

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TNT signs final agreement for acquisition Hoau Group

Posted by | Sep 29, 2006 | |

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.

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