Tag: TNT

New TPG Post rates from 1 January 2007 – stamp to cost 44 euro cents

Posted by | Aug 30, 2006 | |

TNT N.V. today announces that TPG Post will amend its rates on 1 January 2007. The rate for single-item domestic letters up to 20 grams will be increased to 44 euro cents. This will be the first rate increase for single-item mail in five and a half years. The rate for letters between 500 and 3.000 grams will be reduced to euro 2.64 on the same date. TPG Post intends not to increase the 44 euro cent rate again until 2010. The rate for letters has not risen since 2001. The newly announced rates (12.1% average increase) mean that the increase will remain within the inflation rate of 12.5% on aggregate since 2001. With a stamp price of 44 euro cents TPG Post will continue to offer the lowest price for a 24-hour service in Western Europe and the best price-quality ratio in Europe.

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TNT sweetened bid for logistics?

Posted by | Aug 23, 2006 | |

Apollo ups bid for TNT Logistics.

Dow Jones reported yesterday afternoon that U.S. private equity firm Apollo Management has made a late hour bid for TNT’s Logistics division of up to USD2.3B (Euro1.8B), according to unnamed sources quoted by Dow Jones.

This bid is roughly 30% higher than the mid-range of the bid that the newswires reported last Friday that French private equity firm PAI Partners was planning to pay for TNT Logistics. At the reported price of USD2.3B (Euro1.8B), Apollo would pay about 10.7x 1-year trailing EV/EBITDA. TNT has not commented on DJ’s report.

However, if the reported price paid by Apollo is close, we would view this as a strong positive for TNT, with the price about USD1.0B (Euro800M) above expectations

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TNT N.V. expects to reach an agreement shortly about the sale of the Logistics division.

Posted by | Aug 23, 2006 | |

TNT N.V. 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 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.

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TNT reaches agreement to sell its logistics division to Apollo Management

Posted by | Aug 23, 2006 | |

TNT has signed a Sale and Purchase Agreement to sell its logistics division to affiliates of Apollo Management, L.P., a leading private equity firm with offices in New York, London and Los Angeles. The intended sale is part of TNT’s Focus strategy in which the Company announced on December 6th last year that it would focus on its core competency of managing delivery networks. The total transaction value is EUR 1,480.0 million on a cash and debt free basis, of which EUR 15.0 million will be received in the form of a 5.0% equity stake in the new company. TNT intends to return most of the net proceeds, which are estimated at between EUR 1.2 billion and EUR 1.3 billion, to its shareholders by way of a share repurchase programme with a value of up to EUR 1.0 billion.
Peter Bakker, CEO of TNT comments: “This transaction is an important milestone in our Focus strategy and will enable us to fully focus on growing our core network business. I am pleased that we have been able to come to an agreement with Apollo. I am proud of the employees and management of Logistics for their dedication and commitment to TNT. They have been able to keep the business developing and solid over the last nine months and we are very confident of their future success.”

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TNT expects to clinch logistics deal soon

Posted by | Aug 23, 2006 | |

Dutch mail firm TNT (TNT.AS: Quote, Profile, Research) said on Wednesday it should reach a deal soon on the sale of its underperforming logistics business, which it expects to be bought for more than 1 billion euros (USD 1.3 billion).

Private equity firms Apollo Management and PAI were shortlisted and were competing to clinch a deal, sources familiar with the matter have told Reuters.

“TNT NV expects to reach an agreement shortly about the sale of the Logistics division,” the company said in a statement, without giving a timeframe.

“Further announcements will follow, if and when appropriate,” TNT said.

TNT shares rose around 1 percent to 29.49 euros in early trade on Amsterdam’s Euronext exchange.

TNT (TP.N: Quote, Profile, Research) announced its intention to sell its underperforming logistics activities to concentrate on mail and express delivery — which represent about a quarter of group revenue — in December.

TNT’s logistics business has a book value of about 1.15 billion euros (USD 1.5 billion), according to TNT’s 2005 annual report, and the company has said it expects to make a profit on the sale and close it in the second half of the year.

Rabo Securities analyst Thijs Berkelder said he expected TNT to book proceeds from the sale of 1.5 billion euros, based on a selling price of 1.8 billion euros.

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