TNT sells its mail activities in Belgium and its unaddressed

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TNT sells its mail activities in Belgium and its unaddressed mail activities in Italy

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TNT has announced in the framework of its “Vision 2015″ strategy, that it would concentrate its European mail activities on addressed mail in the large countries where TNT Post has strong market positions: Germany, the UK and Italy. In other geographies, the focus is on value realisation through partnerships or sale.

TNT also announced it has signed an agreement to sell its mail business in Belgium, De Belgische Distributiedienst, and its unaddressed mail business in Italy, RSM Italia, to management and NPM Capital N.V. NPM Capital, a private equity firm in the Benelux, will provide financing. The businesses will continue to operate under its current management.

De Belgische Distributiedienst has a leading position in the unaddressed mail market in Belgium and handles the distribution of unaddressed mail and daily newspapers in addition to providing database management services. In 2009, the revenues of De Belgische Distributiedienst were €100m. The parcels activities of TNT Post Pakketservice in Belgium are not included in the sale.

RSM Italia generated revenues of €38m in 2009. TNT Post Italy will continue with the addressed mail business and the mailroom activities.

The sale of de Belgische Distributiedienst and RSM Italia is conditional upon approval of the national competition authorities of Belgium and Italy. Completion of the transaction is expected in the first quarter of 2011. The European Works Council has issued a positive opinion.