Japan Post says to discuss sale of Australian logistics business
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[TOKYO] Japan Post Holdings 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 (S$12.3 million) and assume "billions of US dollars" of Toll's debt, resulting in a special loss of 70 billion yen, the Nikkei reported.
REUTERS
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