In today’s briefing:
- Singapore Post – Australian logistics to be divested for c A$1bn
Singapore Post – Australian logistics to be divested for c A$1bn
Following Singapore Post’s resilient H1 results in November, the company has now announced that it has agreed to sell its Australian logistics business for an enterprise value of c A$1bn to a private equity investor. The disposal is likely to result in the reporting of a gain on disposal of over S$300m. The proceeds are likely to be used to pay down debt and to potentially pay a special dividend to shareholders.
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