TNT changes to shareholder structure Spring Global Mail

TNT announced that they have signed an agreement with Singapore Post and Royal Mail on the exit of Singapore Post from the joint venture Spring Global Mail.

The parties agreed that Singapore Post will acquire the Asia-Pacific business of Spring Global Mail and at the same time will exit the global joint venture.

TNT and Royal Mail remain committed to the future growth of Spring Global Mail. Spring Global Mail will independently develop new business opportunities in the Asia Pacific region. TNT and Royal Mail will continue to own 100% of Spring Global Mail (TNT? share in the joint venture will increase from 51% to 67.55%).