Article: Apollo Mgt. to Pay $1.86 Billion For TNT's Logistics Division

Private equity firm Apollo Management, which created Quality Distribution and is now selling the tank-truck carrier, announced a new freight transportation venture last weelc, saying it would spend $1.86 billion in cash to buy TNT Logistics from the Dutch post office.

TNT N.V., Hoofddorp, Netherlands, had announced in December it wanted to concentrate on its core operations of mail and parcel-express delivery by selling the third-party logistics division (12-12, p. 5). The logistics company operates in North America through TNT Logistics North America, Jacksonville, FIa., which ranks No. 30 on the TRANSPORT TOPICS 100 list of the largest for-hire carriers in the United States and Canada.

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