OREANDA-NEWS. TNT Express announces the completion of the sale of its domestic road operations in China (Hoau) to private equity funds under the management of CITIC PE. All the required regulatory authorisations have been obtained. The sale of Hoau was previously announced on 28 March of this year.

The parties have agreed not to disclose further details about the transaction price.

TNT Express will continue to develop its international express delivery service to and from China, which relies on a network of 36 depots and three international gateways in Beijing, Shanghai and Shenzhen.

TNT Express is one of the world's largest express delivery companies. On a daily basis, TNT Express delivers close to one million consignments ranging from documents and parcels to palletised freight. The company operates road and air transportation networks in Europe, the Middle East and Africa, Asia-Pacific and the Americas. TNT Express made €7.3 billion in revenue in 2012.