TNT Freight Management sale complete
French logistics company Geodis has completed the 460-million-euros ($597 million) acquisition of TNT Freight Management from the Netherlands postal and express group TNT.
TNT said it expects cash proceeds from the transaction of more than 400 million euros ($519 million) and book gain of more than 150 million euros ($195 million). The Amsterdam-based company said it would use most of the proceeds to finance share repurchases.
TNT established the company when it bought Sweden's Wilson Logistics Group for $320 million in August 2004.
TNT Freight Management sale complete
