TNT vendra sa division logistique à Apollo Management
TNT vendra sa division logistique à Apollo Management
TNT a annoncé ce mercredi la vente de sa division logistique, pour
1,48 milliard d'euros, à une société d'investissement américaine,
Apollo Management.
Communiqué de TNT :
TNT reaches agreement to sell its logistics division to Apollo
Management, L.P. - Following completion TNT will launch a share buy
back program of up to ? 1 billion
23 August 2006
Amsterdam, TNT N.V. announces that it has today 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 ? 1,480 million on
a cash and debt free basis, of which ? 15 million will be received in
the form of a 5% equity stake in the new company. TNT intends to
return most of the net proceeds, which are estimated at between ? 1.2
billion and ? 1.3 billion, to its shareholders by way of a share
repurchase program with a value of up to ? 1 billion. The share
repurchase program is expected to commence as soon as possible after
completion.
The intended sale is subject to the approval of TNT?s shareholders at
an Extraordinary General Meeting of Shareholders (EGM). Furthermore
the sale is conditional upon the customary approval of EU and other
regulatory bodies. The positive advice of the company?s central works
council has been obtained. Completion of the transaction is expected
before the year end.
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.?
After completion of the transaction, Dave Kulik will resign from the
TNT Board of Management to become CEO of the new company. Kulik
comments: ?This transaction gives us the opportunity to further
evolve into a leading global service provider in logistics, meeting
the specific needs of our customers. Leveraging on our expertise,
infrastructure, customer base and Apollo?s commitment we are poised
for a competitive and profitable future.?
Gareth Turner, a London based Partner at Apollo Management said: ?The
Logistics division is a world class business with 36,000 dedicated
professionals, a strong management team and an impressive customer
list. We see it as a clear platform for growth and we are happy that
the management team has committed themselves to work with us on
achieving that growth. As long term investor, Apollo Management looks
forward to helping the Logistics division to further build its top
position in the contract logistics market worldwide.?
________________________
About Apollo Management
Founded in 1990, Apollo is a recognized leader in private equity,
debt and capital markets investing. Since its inception, Apollo has
successfully invested over $16 billion in companies representing a
wide variety of industries, both in the US and internationally.
Apollo is currently investing its sixth private equity fund, Apollo
Investment Fund VI, L.P., which along with related co-investment
entities, represents approximately $12 billion of new capital.
Apollo?s current and past investments in the distribution,
transportation and logistics industries include Pacer International,
Quality Distribution, Metals USA, United Agri-Products, and
Affinion, AMC Entertainment, Cablecom, General Nutrition Centers,
Goodman Global, Hexion Specialty Chemicals (which includes the former
coatings and inks resins division of Akzo Nobel and Resolution
Performance Products formerly owned by Royal Dutch Shell), Nalco and
Unity Media."
Source : http://www.tntlogistics.com/en/press_office/press_releases/
archive_2006/20060823_TNT_reaches_agreement_to_sell_its_logistics_divisi
on_to_Apollo_Management.asp
Liste de diffusion de Patrice Salini (transport)
Pour se désinscrire : mailto:salini-request@ml.free.fr?subject=unsubscribe
_________________________________________
TNT a annoncé ce mercredi la vente de sa division logistique, pour
1,48 milliard d'euros, à une société d'investissement américaine,
Apollo Management.
Communiqué de TNT :
TNT reaches agreement to sell its logistics division to Apollo
Management, L.P. - Following completion TNT will launch a share buy
back program of up to ? 1 billion
23 August 2006
Amsterdam, TNT N.V. announces that it has today 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 ? 1,480 million on
a cash and debt free basis, of which ? 15 million will be received in
the form of a 5% equity stake in the new company. TNT intends to
return most of the net proceeds, which are estimated at between ? 1.2
billion and ? 1.3 billion, to its shareholders by way of a share
repurchase program with a value of up to ? 1 billion. The share
repurchase program is expected to commence as soon as possible after
completion.
The intended sale is subject to the approval of TNT?s shareholders at
an Extraordinary General Meeting of Shareholders (EGM). Furthermore
the sale is conditional upon the customary approval of EU and other
regulatory bodies. The positive advice of the company?s central works
council has been obtained. Completion of the transaction is expected
before the year end.
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.?
After completion of the transaction, Dave Kulik will resign from the
TNT Board of Management to become CEO of the new company. Kulik
comments: ?This transaction gives us the opportunity to further
evolve into a leading global service provider in logistics, meeting
the specific needs of our customers. Leveraging on our expertise,
infrastructure, customer base and Apollo?s commitment we are poised
for a competitive and profitable future.?
Gareth Turner, a London based Partner at Apollo Management said: ?The
Logistics division is a world class business with 36,000 dedicated
professionals, a strong management team and an impressive customer
list. We see it as a clear platform for growth and we are happy that
the management team has committed themselves to work with us on
achieving that growth. As long term investor, Apollo Management looks
forward to helping the Logistics division to further build its top
position in the contract logistics market worldwide.?
________________________
About Apollo Management
Founded in 1990, Apollo is a recognized leader in private equity,
debt and capital markets investing. Since its inception, Apollo has
successfully invested over $16 billion in companies representing a
wide variety of industries, both in the US and internationally.
Apollo is currently investing its sixth private equity fund, Apollo
Investment Fund VI, L.P., which along with related co-investment
entities, represents approximately $12 billion of new capital.
Apollo?s current and past investments in the distribution,
transportation and logistics industries include Pacer International,
Quality Distribution, Metals USA, United Agri-Products, and
Affinion, AMC Entertainment, Cablecom, General Nutrition Centers,
Goodman Global, Hexion Specialty Chemicals (which includes the former
coatings and inks resins division of Akzo Nobel and Resolution
Performance Products formerly owned by Royal Dutch Shell), Nalco and
Unity Media."
Source : http://www.tntlogistics.com/en/press_office/press_releases/
archive_2006/20060823_TNT_reaches_agreement_to_sell_its_logistics_divisi
on_to_Apollo_Management.asp
Liste de diffusion de Patrice Salini (transport)
Pour se désinscrire : mailto:salini-request@ml.free.fr?subject=unsubscribe
_________________________________________