TNT Express NV is selling its domestic road operations in India to a logistics subsidiary of India Equity Partners (IEP) in order to focus on its international business, reported Dow Jones Newswires.

    The decision comes after an extensive review of the prospects for the domestic road business in India within TNT Express' business portfolio.

    The sale takes effect December 30. No financial terms were disclosed.

    IEP's logistics subsidiary will become TNT Express' preferred partner for domestic road delivery in India.

    TNT Express will continue to offer inbound and outbound India services, via its globally interconnected networks.

    The domestic road senior management and most employees (approximately 1,000) will move to the new employer.

    On-ground facilities, IT and systems and processes will be supported by TNT Express during the transition process.

(source:http://www.cargonewsasia.com/category.aspx?id=7)