TNT N.V. announces demerger of its Express business
As of May 25, TNT N.V.'s Express business is no longer part of the larger company and has been spun off into a new entity, TNT Express N.V. The Extraordinary General Meeting of Shareholders (EGM) approved the move.
TNT Express N.V. joined the ranks of publicly traded companies on May 26 on NYSE Euronext Amsterdam. TNT executives said that the listing of the company is a key part of the separation process. The actual breakup will occur on May 30.
TNT Express CEO Marie-Christine Lombard is excited about the new opportunities presented by the demerger. “This is a great moment for all TNT Express employees and for me personally,” she said in a statement. “We have a strong and experienced management team that is focused on realizing value for shareholders and delivering on our targets.”
Lombard is also optimistic about the international implications of the demerger. “Our new independence will allow us to build a stronger, more focused TNT Express,” she said. “We are aiming to consolidate our leading positions — particularly in the European express market and on Asia-Europe lanes — while also capturing domestic growth opportunities in selected emerging markets.”
TNT N.V. said that it will continue its mail business operations, although it will now operate under the name PostNL N.V.