SingPost divests freight forwarding business Famous Holdings for $177.9 million

SingPost divests freight forwarding business Famous Holdings for $177.9 million

The sale led to an estimated realised gain on disposal of $10.5 million and about $104 million in cash for the firm. Read more at straitstimes.com.

SingPost sells freight forwarding business for US$139m

As part of its broader strategy to divest non-core assets and recycle capital, SingPost has sold its entire freight forwarding business conducted through Famous Holdings Pte Ltd (FHPL) and Rotterdam Harbour Holding (RHH) for approximately S$177.9m (US$139.2m). The sale was completed in two parts, with DP World Logistics FZE acquiring FHPL and its related businesses for approximately S$125.5m (US$98.2m) and a consortium comprising ETC Etcetera Be…

SingPost sells entire freight forwarding business for $177.9 mil

https://www.theedgesingapore.com/news/co...s-1779-mil

SingPost divests freight forwarding business Famous Holdings for S$177.9 million

Singapore Post (SingPost) has divested its entire freight forwarding business, Famous Holdings, for about S$177.9 million.