FedEx in talks to buy French express-transportation company Tatex SAS
18 Apr 2012
FedEx Corp yesterday said that it is in talks to possibly buy French express-transportation company Tatex SAS, as the world's second-largest package delivery company seeks to expand in Europe.
The move comes less than a month after its larger rival United Parcel Service agreed to acquire TNT Express in a $6.85 billion deal. (See: UPS to acquire European rival TNT Express for $6.85 billion)
It also comes less than two weeks after the Memphis, Tennessee-based company announced plans to buy family-owned Polish shipping company Opek Sp. Z o.o. for an undisclosed sum.
Founded in 1976 and based in Tours, France, Tatex was formerly known as Tat Express SA and changed its name to Tatex SAS in December 2006.
Tatex is a business-to-business express transportation company that carries parcels and heavy shipments. It has 35 stations, six regional hubs and a central hub near Paris.
It carries more than 19 million shipments a year and has an annual turnover of about €150 million ($196.6 million).