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SingPost to hold EGM seeking approval for sale of its Australia logistics business
The Straits Times
|February 27, 2025
Singapore Post will hold an extraordinary general meeting (EGM) seeking shareholders' approval to sell its Australian logistics business.
The move, which values Freight Management Holdings (FMH) at A$1.02 billion (S$863 million), is expected to yield an anticipated special dividend and substantially improve the company's financial position.
However, given that FMH is a major contributor to SingPost's overall profits, a sale would also raise questions about the company's long-term growth potential.
The EGM - where shareholders could vote for or against the sale of FMH - will be held in hybrid form at 3.30pm on March 13, SingPost said in documents filed with the Singapore Exchange on Feb 26.
SingPost expects to receive gross proceeds of approximately A$775.9 million and a profit of around $$289.5 million from the proposed sale of FMH.
The company intends to use the proceeds to repay A$362.1 million in debt taken to finance the acquisition of FMH.
Cette histoire est tirée de l'édition February 27, 2025 de The Straits Times.
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