Dutch Mailer Buys Into Brazil

Amsterdam-based TNT says it is acquiring a 51% stake in Brazil’s Expresso Aracatuba, a mail and express delivery company, for about $71.5m in cash. TNT says it intends to purchase the remaining stake in Aracatuba in May 2010 for $32.5m. Aracatuba has been a partner of TNT subsidiary, TNT Mercurio, in Brazil’s Central West and North regions since 2001. The deal was privately negotiated. In February, TNT announced the acquisition of Chile’s LIT Cargo for an undisclosed sum.