Saturday 22nd Oct 2016 - Logistics Manager

TNT cancels sale of Brazilian domestic business

TNT Express has decided to retain its domestic operations in Brazil, after judging it impossible to complete a transaction on acceptable terms with potential bidders.

The company announced plans to sell the business in March 2013, after which it carried out a comprehensive process to secure the best outcome for shareholders, customers, and employees.

It has now terminated discussions with potential buyers, saying that there was ultimately no acceptable prices or conditions.

Domestic Brazil will now be managed as a separate business unit within TNT Express, and will no longer be reported as a discontinued operation.