The enterprise value translates into A$775.9 million in cash and generates an expected gain on disposal of about A$312.1 million, subject to adjustments determined at the time when the deal is completed.
The buyer is Pacific Equity Partners, an Australia-headquartered private equity fund.
The deal comes after a strategic review of SingPost's Australian business which explored options to enhance business value and shareholder value, said the group on Dec 2.
SingPost believes that proceeds from the proposed disposal will reinforce the group's liquidity and strengthen its balance sheet.
This story is from the December 03, 2024 edition of The Straits Times.
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This story is from the December 03, 2024 edition of The Straits Times.
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