The divestment has resulted in an expected gain of $289.5 million for the group. The estimated gain is preliminary and will be confirmed following the completion of an audit.
Singapore Post (SingPost) has completed the divestment of Freight Management Holdings (FMH) to Pacific Equity Partners for an enterprise value of A$1.02 billion ($867 million), according to a release dated March 27.
The sale follows the approval at the EGM held on March 14 where 99% of shareholders voted in favour of the divestment.
