TNT has sold its unaddressed mail businesses in Belgium and Italy to management and privateequity company NPM Capital in order to focus on addressed mail in strong European markets.
As part of its “Vision 2015” strategy, the company already announced in December 2009 that itwants to focus on European activities in addressed mail in the large countries of Germany, the UKand Italy where TNT Post has strong market positions. In other smaller markets, TNT has placed itsfocus on value realisation through partnerships or sale.
TNT’s Belgian mail business is called De Belgische Distributiedienst and RSM Italia is itsunaddressed mail business in Italy. NPM Capital, which is a leading private equity firm in theBenelux, will provide financing for the transactions. The businesses will continue to operate underthe current management.
De Belgische Distributiedienst has a leading position in the unaddressed mail market in Belgiumand handles the distribution of unaddressed mail and daily newspapers while also providing databasemanagement services. In 2009, its revenues amounted to €100 million. The parcels activities of TNTPost Pakketservice in Belgium are not included in the sale.
RSM Italia generated revenues of €38 million in 2009. TNT Post Italy will continue with theaddressed mail business and the mailroom activities.
The sale of de Belgische Distributiedienst and RSM Italia is subject to approval by the nationalcompetition authorities of Belgium and Italy. The transaction is expected to be completed in thefirst quarter of 2011, TNT added.
In the beginning of 2010, TNT Post already sold its Austrian mail business Redmail.
