TNT spilts and then lists

TNT Express commenced trading on the NYSE Euronext Amsterdam on 26 May under the symbol “TNTE” and has been included in the AEX Index.

The listing of TNT Express is part of the company’s de-merger from TNT NV, which received shareholder approval on 25 May at TNT NV’s Extraordinary General Meeting of Shareholders (EGM).

TNT was founded in Australia in 1946 as Thomas Nationwide Transport, with a fleet consisting of a single truck. It was acquired in a friendly takeover in 1996 by PTT Post (The Dutch Postal Service).

Managing director of TNT Express Australia, New Zealand and Pacific Islands Bob Black said TNT is one of Australia’s greatest business success stories.

“From such humble beginnings, TNT Express now moves 4.7 million consignments every week to more than 200 countries.

“Globally we employ 83,000 people and run a fleet of nearly 30,000 road vehicles and 50 aircraft.

“It’s astonishing to think of what has been accomplished during the company’s 65-year history,” said Mr Black.

Marie-Christine Lombard, CEO of TNT Express, said the listing was a great moment for TNT Express employees.

“TNT Express has extremely strong fundamentals and an exciting future ahead. We have a strong and experienced management team that is focused on realising value for shareholders and delivering on our targets.

“Our new independence will allow us to build a stronger, more focused TNT Express. We are aiming to consolidate our leading positions – particularly in the European express market and on Asia-Europe lanes – whilst also capturing domestic growth opportunities in selected emerging markets.

Source: T and L News