Thursday, January 11, 2007

TNT Post Acquires Brazilian Firm; Expand to India

The Dutch-based postal company TNT NV said Wednesday it has acquired a Brazilian delivery company for an undisclosed sum.
Expresso Mercurio SA had sales of around euro190 million (US$247 million), and an analyst interviewed by Dow Jones Newswires estimated the sale price at around euro400 million (US$520 million).
TNT shares were down 0.4 percent at euro32.42 (US$42.18) in Amsterdam.
According to a joint statement, Expresso, based in Porto Alegre, handled pickup and delivery of UPS packages in Brazil's populous south and southeast.
The company said the buy was part of a strategy to expand in four large growth markets: China, India, Brazil and Russia.
In September of 2006, TNT announced the takeover of Speedage Express Cargo Services, a road express company in India.
The Dutch-based postal company TNT NV said Wednesday it has acquired a Brazilian delivery company for an undisclosed sum.
Expresso Mercurio SA had sales of around euro190 million (US$247 million), and an analyst interviewed by Dow Jones Newswires estimated the sale price at around euro400 million (US$520 million).
TNT shares were down 0.4 percent at euro32.42 (US$42.18) in Amsterdam.
According to a joint statement, Expresso, based in Porto Alegre, handled pickup and delivery of UPS packages in Brazil's populous south and southeast.
10/01/07 Forbes, US