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Japan Post buys Toll Holdings for A$6.49b

Buying the Australian firm gives the state-owned company a transport network ahead of an IPO this year

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SIGN ON IT: Mr Horsburgh (left) and Mr Takahashi exchanging pens during an official signing ceremony in Sydney on Wednesday. The acquisition may herald the start of a buying spree for Japan Post which said that it was attracted by Toll's expertise in dealmaking.

Sydney

JAPAN Post Holdings Co agreed to buy Australia's Toll Holdings Ltd for A$6.49 billion (S$6.9 billion), gaining a transport network in the faster-growing Asian region ahead of an initial public offering (IPO) this year.

The offer, the biggest by a Japanese company for an