[photopress:mercedes_benz_2435_tnt_1997_1.jpg,full,alignright]TNT NV, one of the world’s leading express delivery companies has acquired Hoau Group, China’s biggest private road logistics supplier. (For those who like trivia the TNT stands for Thomas Nationwide Transport which was originally an Australian firm. The NV means it became a Dutch company. TNT NV has two brands; TNT and Royal TPG Post. TNT is its global brand for express and logistics and supply chain services. Royal TPG Post is the national postal operator in the Netherlands. On 23 August this year TNT NV. said it had signed a Sale and Purchase Agreement to sell its logistics division to Apollo Management, a U.S. private equity firm.)
TNT will acquire and merge with Hoau’s nationwide road transport and freight business. The parties expect to complete the transaction early next year, subject to approval by the Chinese government.
TNT said, in a statement, ‘The acquisition of Hoau offers TNT comprehensive road coverage in China and is in line with TNT’s strategic focus on integrated domestic and international networks.’
Hoau Group, based in China’s northeast Heilongjiang Province, has more than 1,100 depots and 56 hubs across China.
Source: China Daily