TNT agrees to sell Logistiques Nicolas
TNT has agreed to sell Logistiques Nicolas, part of its French subsidiary TNT Logistics Holdings SAS, to French cargo transport operator Malherbe for an undisclosed amount.
Neither TNT’s French Express business unit nor its French freight management business is included in the deal.
Malherbe is also buying Logistiques Ladoux from TNT. The sale of the two companies, plus the sale of the majority of the contract logistics activities and part of the transportation activities to Norbert Dentressangle, represents about 95 percent of the TNT Logistics France business unit.
TNT said it expects the sale and refocus of its French logistics business unit to have a negative pre-tax financial impact of up to euros 140 million ($169 million).
TNT said in December it plans to sell off its logistics unit TNT Logistics to focus on its mail, express and freight management sectors.