Toll strengthens global freight network
Thursday, 21 February 2008
Logistics giant Toll is on track to compulsorily acquire all remaining shares of Hong Kong freight forwarder BALtrans Holdings, following acceptances of its takeover offer exceeding 95% of the issued share capital last week.
Toll managing director Paul Little says the takeover of BALtrans is a key plank in his group's global freight forwarding strategy.
Toll intends to delist BALtrans following its acquisition of the remaining shares to make BALtrans a wholly owned subsidiary of Toll once the current offers close.
"Toll's priority now is to work with the management team on an aggressive growth strategy for the global freight forwarding business," says Little.