Australia's Toll Holdings said yesterday it will buy the 49% stake held by its partner China Merchants Group in Shenzhen-based joint venture ST-Anda Logistics, increasing its ownership to 100%. Financial details of the transaction were not disclosed.
The Toll group has for some time considered our Chinese logistics operations to be of strategic significance to Toll's international business, says Toll group managing director Paul Little in a written statement commenting on the deal. China is a critical element of our growth strategy.
ST-Anda is a third-party logistics operator in China. It was formed in 1995 as a joint venture between Singapore-based SembCorp Logistics and the Shekou Industrial Zone. The Shenzhen Shekou...
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