TNT N.V. Sells Logistics Division for $2 Billion

TNT N.V. (Amsterdam) announces that it is sell its logistics division to affiliates of Apollo Management, L.P., (Purchase, N.Y.) a private equity firm with offices in New York, London and Los Angeles. The intended sale is part of TNT’s desire to focus on its core competency of managing delivery networks. The total transaction value is $2 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."

Source: TNT N. V.

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