Renault has agreed the sale of its logistic's arm to a consortium including TNT Logistics and vehicle transportation provider AutoLogic.
TNT, through its parent company TPG, and AutoLogic, alongside Swedish shipping company Wallenius Lines and Renault itself, form the consortium which wants to acquire Compagnie d'Affretement et de Transport (CAT).
Roberto Rossi, group managing director TNT Logistics, said: “The participation in CAT provides a perfect fit with our complementary logistics business. We anticipate that this transaction will significantly enhance our service offering in the European logistics market.”
Renault is outsourcing its logistics operations as part of a new global strategy.
The deal is subject to EC approval.
AutoLogic also today announced it is to acquire Axial, the automotive transport arm of Tibbett and Britten. Its portfolio includes Walon France.