Wednesday 12 May 2021
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todayonline - 22 days ago

Japan Post says to discuss sale of Australian logistics business Wednesday

TOKYO - Japan Post Holdings Co Ltd said its board would meet on Wednesday to discuss the sale of part of its Australian logistics arm Toll Holdings, responding to a Nikkei business daily report regarding the sale. The Japanese company will sell loss-making Toll s delivery business in Australia and New Zealand to Australia s Allegro Funds for about 1 billion yen ($9.25 million) and assume billions of U.S. dollars of Toll s debt, resulting in a special loss of 70 billion yen, the Nikkei reported. ($1 = 108.0900 yen) REUTERS


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