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TNT buys Brazil's Mercurio for undisclosed sum


Published : Wed, 10 Jan 2007 08:36
By : Agencies
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AMSTERDAM - TNT NV said it has bought Brazilian express mail company Expresso Mercurio for an undisclosed sum.

The acquisition of 100 pct of Mercurio's shares has already been completed.

Mercurio has 15 pct of the Brazilian market and sales in 2006 are expected to be around 190 mln eur, TNT said.

Mercurio employs 6,000 staff, owns 101 depots throughout Brazil and has 2,044 vehicles.

TNT said it expects the Brazilian domestic express market to show growth rates of 10 to 15 pct 'in the coming years'.

kaj.leers@thomson.com

kel/jfr

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