Japan Post buys Australia's Toll Holdings for $5.1bn
February 18 , 2015
Financial firm Japan Post Holdings is buying Toll Holdings, Australia’s biggest freight and logistics company, for $5.1 billion.
With this, the state-owned Japan Post would become a leading player in the logistics business.
While Toll will continue to use its name, it will be run as a unit under Japan Post, reports said.
In a statement Ray Horsburgh, the Toll chairman, described the purchase as a “very powerful combination” that will make the Japanese company “one of the world’s top five" logistics firms.