Press Release

TNT to acquire Brazilian delivery partner Expresso Araçatuba

Publish Date : 28 April 2009 at 08:30 CET - Amsterdam, TNT announces the signing of an agreement to acquire Expresso Araçatuba Transportes e Logística S.A., a key delivery partner of TNT Mercúrio in Brazil's Central West and North regions since 2001.

TNT will acquire 100% control of the company with effect from the closing date of the transaction. The total acquisition price on a cash and debt free basis is EUR 54 million, with the share purchase split into two stages. The initial purchase of 51% of the shares for EUR 25.8 million will be made in May 2009. The purchase of the remaining 49% of the shares for EUR 24.8 million will be made a year later, in May 2010. The closing of the transaction is foreseen at the beginning of May 2009.

This acquisition is a logical next step to building a pan-Brazilian network. On top of strengthening TNT‘s position in the Brazilian domestic market, it provides a foundation for further development of transport flows between Brazil, Chile and Argentina.

Sao Paulo-based Expresso Araçatuba is a well-managed family-owned company founded in 1952. The company had a revenue of BRL 294.5 million (about EUR 101.6 million) and EBITDA of BRL 15.3 million (EUR 5.3 million) in 2008. It offers express transportation – mainly by road – from the South and South East of Brazil to the highly attractive North and Central West regions, home to the continent's largest concentration of pharmaceutical companies and large manufacturing plants. It employs about 2,200 people and operates 1,000 vehicles and 40 depots.

“This is great news for our customers, as it enhances TNT's value proposition by creating a seamless nationwide capability,” said Curtis Watson, Regional Managing Director, Latin America. “Customers in Brazil can now benefit from TNT's broad range of services and domestic and regional coverage via the South American Road Network.”

About TNT
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 maximise its network performance. TNT serves more than 200 countries and employs more than 163,000 people. Over 2008, TNT reported €11.1 billion in revenues and an operating income of €982 million. TNT is officially quoted on the Amsterdam Stock Exchange. TNT recognises its social responsibility and has formed partnerships with the United Nations World Food Programme and the United Nations Environment Programme to fight hunger and pollution in the world. Our efforts are being recognised: in 2008 TNT again reached the highest score of all companies included in the Dow Jones Sustainability Index and in the Carbon Disclosure Project in the carbon intensive sector.

Page publication date: 28 April 2009 at 08:30 CET