TNT Express has received regulatory approval to sell its Netherlands-based fashion arm to a consortium of Netlog Group and Belspeed.
The terms of the deal, which was first announced March 11, have not been disclosed. TNT is currently integrating its fashion segments in the UK and Ireland with TNT Express.
In the first quarter, TNT Express had operating revenues of 17 million euros ($23.28 million), down from 219 million euros in the first quarter of 2013.
TNT Express completes fashion segment sale
