The sale of TNT’s logistics division triggered fast action on other elements of its strategy to focus on its global express and mail businesses. Shortly after announcing the approval of the sale of its logistics division to private equity firm Apollo, TNT said it intended to sell its Freight Management unit. Within weeks of that statement, TNT announced it would sell the forwarding operation to GEODIS SA of France in a transaction worth €460 million ($590 million).
U.K.-based Transport Intelligence reported this is the first major acquisition by GEODIS following years of effort to turn around its business.
