Toll consumes BALtrans

Toll’s takeover offer of BALtrans Holdings Limited closed on Friday with acceptances of more than 99% being received.

Toll’s managing director Paul Little was "pleased that BALtrans is now a part of Toll’s Global freight forwarding strategy.

“BALtrans is a well regarded global freight forwarder with a strong Asian base. We look forward to the integration progressing – BALtrans helps Toll build its global reach and to become a significant player in the global freight forwarding sector.” Mr Little said.

Mr Little has also been appointed as a director and the executive chairman of BALtrans Holdings Limited.

BALtrans shares will be suspended on the Stock Exchange of Hong Kong from this morning until delisting, which will follow the completion of compulsory acquisition of the remaining shares not held by Toll. It is anticipated that BALtrans will become a wholly owned subsidiary of Toll by the middle of next month.

The Toll Group is one of the Asian region’s largest providers of integrated logistics services with global reach and generating annual consolidated revenue approaching A$5 billion and operations throughout Asia.

MREC HERE

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