Kühne & Nagel (KN) does not plan to make a bid for a full takeover of TNT Logistics butcould be interested in some of its activities in Asia-Pacific, according to Dutch media. TNT has
said that both strategic and financial investors have shown interest in the division which it putup for sale last December following its strategy review.Dutch financial newspaper Financieele Dagblad cited KN chief financial officer Gerard vanKesteren as saying that the Swiss-based transport and logistics group would only be interested insome of TNT Logistics’ Asian operations but not in the whole division. The indicated price of€1.5-1.8 billion for the whole division was too high, he was quoted as saying. The newspaper namedKuwait-based PWC Logistics, Schenker, DHL, UPS and financial investors as potential candidates tobuy TNT Logistics.
Speaking at TNT’s annual press conference on February 27, TNT CEO Peter Bakker said that therehad been “serious interest from strategic and financial investors” in TNT Logistics and they werecurrently studying the sale documents. Declining to name individual companies or their geographicallocation, he stressed that no negotiations had yet taken place.
