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Apollo has big plans for TNT logistics
Page 8
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Although it is being sold at last, TNT's
logistics arm may not have the rosiest of futures. Guy Sheppard reports.
TNT'S LOGISTICS arm is finally being sold but a question mark is said to hang over its future.
Private investment company Apollo Management is paying €1.4bn (C1 bn) for the business, which was put on the market nearly nine months ago.
Apollo says its long-term plan is to help develop the company's position as the second biggest logistics business in the world.
But Chris Morgan. lead logistics analyst with Datanionitor, believes its fate is still unclear: If you look at their relative market share around the world, it's about 2% of the market.
"There's still massive fragmen tation in the industry-consolidation among small, medium and even larger players is inevitable for some of these companies" He believes customers will be left wondering whether Apollo is simply buying the company to sell it on, either as a whole or piecemeal, or keep it as a long-term investment.
Gareth Turner, a London-based partner in Apollo, describes the logistics division as -a world-class business with 36,000 dedicated professionals, a strong management team and an impressive customer list".
He says: -We see it as a clear platform for growth and we are happy that the management team has committed themselve to work with us in achievim that growth."
The UK arm of the logistic division, which includes au Newsfast operation. employ. 7,500 people and has a turnover o €750m (£510m).
Dutch-based TNT says the salc which is due to be completed I): the end of the year, will allow flu group to focus on its core mail am courier activities.