Allen & Overy LLP advised TNT Express N.V. on the intended disposal of its Innight Business in Germany, Austria, Belgium and the Netherlands to Special Situations Venture Partners III Fund, advised by Orlando Management AG.
The parties agreed not to disclose the purchase price.

The transaction is executed as a combined asset and share deal. Allen & Overy provided advice on German, Dutch and Belgian law. The transaction involved a competitive bidding process in which several bidders negotiated until shortly before the end of the transaction.

TNT Express N.V. is a leading global logistics company headquartered in Hoofddorp, the Netherlands, TNT Innight is a leading provider of night-time-express distribution services in Europe, especially in sectors such as automotive, agriculture and engineering machinery. It employs about 1,300 people across 40 facilities in Northern and Central Europe. The disposal of the Innight Business is part of TNT Express Group’s strategic review which is focused on strengthening the core express business.

The Allen & Overy team is led by partner Dr Matthias Horn (corporate/M&A) and comprised partners Dr Hans-Peter Löw (employment), Dr Heike Weber (tax), counsels Nikolai Sokolov (Corporate/M&A, all Frankfurt/Main) and Dr Christian Hilmes (Corporate/Real Estate, Hamburg), senior associate Peter Seidel (tax) and the associates Dr Fabio Borggreve, Matthias Diegelmann (corporate/M&A) and Dr Sebastian Schulz (employment, all Frankfurt/Main).

Associate Jelle Krings (corporate/M&A), counsel Rens Bondrager (tax), senior associate Arnold Keizer (employment) and associates Jasper Klopper (IP, all Amsterdam) provided advice on Dutch law. Partner Pierre-Olivier Mahieu and associate Gabrielle de Vliegher (both Corporate/M&A, both Brussels) provided advice on Belgian law.

Inhouse advice TNT Express N.V.: Ype Hangelbroek (TNT M&A, lead), Sandra Djuzic (TNT M&A) and Senior Legal Counsel Sarah Gerritse.

Dr Bernhard Rieder (Dorda Brugger Jordis) advised on Austrian law.