UPS has announced it has the funding in place for the acquisition of TNT Express, which was announced on 19 March. The US parcels giant will finance the deal by using €3.7bn of cash from its balance sheet and around €1.46bn via existing credit facilities. Totalling €5.16bn, the original deal reached between UPS and TNT Express was for an all-cash offer of €9.50 per ordinary share for the takeover of the Dutch business. In line with Dutch regulatory requirements, UPS […]
TNT Express has appointed Jeroen Seyger as interim chief financial officer (CFO) and interim member of the executive board. Seyger will take on the responsibilities of previous CFO Bernard Bot, who became interim chief executive following the departure of Marie-Christine Lombard last month. “Jeroen’s financial and business experience inside and outside the company, plus his involvement in recent strategic projects, gives me great confidence,” Bot said. Seyger joined the company in 2003 and has held a range of senior management […]
TNT Express has announced the intended sale of its Dutch TNT Fashion Group operation to a consortium formed by Belgian fashion and lifestyle logistics firm Belspeed and Turkish logistics and transport conglomerate Netlog Group.
Whistl has brought in former TNT MD Alistair Cochrane as it ramps up its presence in the parcel delivery sector.