The transaction will be funded by the group’s cash reserves and available bank loan facilities. The group’s cash reserves stood at $435.8 million as at Sept 30, 2022.
Singapore Post (SingPost) says it will be acquiring an additional 37% interest in Australian services provider, Freight Management Holdings (FMH), for A$175.4 million ($161.0 million).
This brings SingPost’s total stake in FMH to 88% from 51% previously. SingPost first acquired a 28% stake in FMH in December 2020. It then upped its stake to 51% in November 2021. The latest acquisition was made via SingPost’s wholly-owned subsidiary, SingPost Australia Investments Pty Ltd.
