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SingPost to acquire Australia’s M J Luff for $106 mil

The acquisition was completed on March 1.

Singapore Post (SingPost) has acquired M J Luff, an Australian-owned interstate transport and distribution company for A$120 million ($106 million).

The acquisition of 100% of M J Luff’s shares was made through SingPost’s wholly-owned subsidiary, Freight Management Holdings, who entered into a share sale agreement (SSA) with M J Luff’s vendors and sale beneficiaries. M J Luff’s total issued share capital comprises 200 ordinary shares and 212 preference shares.

The acquisition was completed on March 1.

As at 4.32pm, shares in SingPost are trading flat at 39.5 cents.

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