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Japan Post buys Australia's Toll Holdings for $5.1bn

  • 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.

    Tagged as: Japan Post, Toll Holdings, Australia, freight, logistics, logistics business, Ray Horsburgh, business news