TNT set to acquire TG+

TNT, a global provider of mail, express and logistics services, has announced that its express division will acquire TG+, a Spanish domestic distribution company. The transaction is subject to regulatory approval and is expected to close early this year. 3i currently owns a 49.8% stake in TG+, which it acquired in 2001 in a deal totalling EUR 15m. TG+ is the result of the merger between Transcamer and Gomez which took place in 2003.