Brazil Regulator Approves Fedex Acquisition of TNT Express

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This is a joint press release by FedEx Corporation
FDX
, FedEx Acquisition B.V. and TNT Express N.V.
TNTEY
in connection with the recommended public offer by FedEx Acquisition B.V. for all the issued and outstanding ordinary shares in the capital of TNT Express N.V., including all American depositary shares representing ordinary shares (the Offer). This announcement does not constitute an offer, or any solicitation of any offer, to buy or subscribe for any securities in TNT Express N.V. The Offer is made solely pursuant to the offer document, dated August 21, 2015 (the Offer Document), approved by the Netherlands Authority for the Financial Markets (Autoriteit Financiële Markten) (the AFM). Terms not defined in this press release will have the meaning as set forth in the Offer Document. "We are very pleased with the unconditional approval from the Brazilian regulatory authority" Tweet this FedEx Corporation (FedEx)
FDX
, FedEx Acquisition B.V. (the Offeror) and TNT Express (TNT Express) jointly announce that they have obtained the unconditional approval from the Conselho Administrativo de Defesa Econômica (CADE) in connection with the Offer. "We are very pleased with the unconditional approval from the Brazilian regulatory authority," said David Bronczek, President and CEO, FedEx Express. "Once the acquisition is closed, we look forward to the opportunities it will bring to our employees, customers and shareholders in Latin America and across the globe." On January 8, 2016, FedEx and TNT Express announced that the Acceptance Period for the Offer has been extended until two weeks following the satisfaction or waiver of the Offer Condition with respect to Competition Clearances. The Offer Condition regarding Competition Clearances relates to obtaining competition approval from the relevant antitrust authorities in the EU, Brazil, China and the United States of America. The companies recently announced the unconditional approval from the United States and the European Union. Under Brazilian law, the decision may be appealed within 15 calendar days of the official publication of the decision. FedEx and TNT Express continue to work constructively with the regulatory authorities to obtain clearance of the transaction in the relevant jurisdictions, including China. FedEx and TNT Express are making timely progress and continue to anticipate that the Offer will close in the first half of calendar year 2016.
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Posted In: NewsM&APress Releases
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