TNT Logistcs part of consortium to acquire Renault's Logistics arm
27 March 2001 - 16:45 CET
TNT Logistics, through its parent company TPG, has announced a stakeholding in Albateam*, the consortium which has today signed an agreement to acquire 100% of Renault's transport and logistics subsidiary, Compagnie d'Affretement et de Transport (C.A.T.). The other participants in the Albateam consortium are the British based vehicle transportation provider Autologic, the Swedish shipping company Wallenius Lines and Renault itself. C.A.T. had a turnover of € 1.2 billion in 2000. The proposed transaction is subject to clearance by the European Commission.
TNT's indirect stake in C.A.T. will ensure that TNT's activities in the dynamic logistics sector continue to expand, particularly in France, Spain and South America.
Says Roberto Rossi, Group Managing Director TNT Logistics: "The participation in C.A.T. provides a perfect fit with our complementary logistics business. We anticipate that this transaction will significantly enhance our service offering in the European logistics market by introducing a new area of expertise - lead contract vehicle logistics - to TNT's existing general contract logistics activities."
*Global Automotive Logistics being the legal entity of Albateam.
