Singapore Post (SingPost) S08 has acquired the final 2% interest in Australian services provider Freight Management Holdings (FMH) for A$13.3 million ($11.7 million).
Following the acquisition from FMH management shareholders, SingPost, through its wholly-owned subsidiary SingPost Australia Investments (SPAI), holds 100% of the issued share capital of FMH.
SingPost first acquired a 28% stake in FMH in December 2020 before upping its stake to 51% in November 2021. The company acquired an additional 37% stake in January and a further 10% interest on Nov 28, bringing its total stake in FMH to 98%.
Shares in SingPost closed unchanged at 45 cents on Dec 6.
