TPG FORMS MAIL ALLIANCE WITH GERMAN HERMES
TPG NV., the Dutch postal, express delivery, and logistics company, said Thursday it signed an agreement to establish a mail delivery joint venture with Hermes, a German distribution group.
The new venture would be called EP Europost AG & Co KG, and referred to in the short form as Europost.
TPG will hold 71 percent and Hermes 29 percent of the joint venture. If more backers join in, TPG’s share could drop to 51 percent, a spokesman said.