This includes around A$220 million of debt, where SingPost would acquire A$776 million in cash and post an expected one-off gain on disposal of around $312 million upon completion. The transaction is expected to be completed by end March 2025 and is unlikely to be rejected by the Australian authorities, UOBKH analyst Llelleythan Tan Yi Rong says.
UOB Kay Hian (UOBKH), Maybank Securities and CGS International analysts have maintained “buy” and “add” calls on Singapore Post (SGX:S08
) (SingPost) with higher target prices of 72 cents, 77 cents and 74 cents respectively, after the company announced its plans to sell its Australian business.
On Dec 2, SingPost said it has entered into an agreement with Pacific Equity Partners for the complete sale of its assets, including Freight Management Holdings (FMH), CouriersPlease and recently acquired Border Express at an enterprise value of A$1.02 billion ($890 million).
