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CMB - Compagnie Maritime Belge Announces ASL Aviation's Acquisition of Equity Interest in TNT Airways SA and Pan Air Lineas Areas SA


Thursday, 15 Nov 2012 07:00pm EST 

CMB - Compagnie Maritime Belge announced that ASL Aviation (ASL) reached an agreement with TNT Express NV (TNT Express) for the acquisition of 100% of the equity interest in TNT Airways SA (TAY) and Pan Air Lineas Areas SA (PNR). The transfer is conditional on and will become effective immediately prior to the completion of the proposed UPS-TNT Express merger. ASL is a joint venture between CMB (51%) and 3P Air Freighters (49%) (a private equity fund managed by Petercam). 

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