Jana, Aimco Sold 2.8 Million TNT Express Shares

Jana Partners LLC and Alberta Investment Management Co. (Aimco) have sold 3 million shares of TNT Express NV (TNTE.AE), sending their stake to below the 5% threshold which requires investors to file their stake with the Dutch stockmarket regulator.

On Feb. 22, Jana and Aimco jointly held 24.37 million shares in TNT Express, compared with 27.18 million shares previously, according to a filing with the Dutch stock market regulator, or AFM. The new filing represents a 4.49% stake, down from 5.00% previously.

TNT last week rejected a EUR9 per share offer from U.S. rival United Parcel Service Inc. (UPS) but said both companies remain in talks about a possible deal. The unsolicited offer valued TNT at EUR4.9 billion.

Shareholders including Jana have over the years asked TNT to review its strategic options, including a possible sale of the group.

In the Netherlands, investors are required to file their holding in listed companies if the stake moves above or below 5%.

- By Robin van Daalen; Dow Jones Newswires; +31 20 571 52 01; robin.vandaalen@dowjones.com

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