Toll seals deal to buy Asian freight forwarder BALtrans

By: Jason Whittaker


Toll Holdings will compulsorily acquire Asian freight forwarder BALtrans after exceeding the acceptances level on its takeover bid. The Hong Kong-based

Toll Holdings will compulsorily acquire Asian freight forwarder BALtrans after exceeding the acceptances level on its takeover bid.

The Hong Kong-based logistics firm will be de-listed and become a wholly-owned subsidiary of Toll.

Acceptances for the takeover offer exceeded 95 percent of the issued share capital yesterday, allowing Toll to compulsorily acquire all remaining BALtrans shares and fully integrate the company with its existing operations.

Toll Managing Director Paul Little says the takeover is a key plank in Toll’s global freight forwarding strategy.

"This is a great outcome for Toll," he says.

"The integration of BALtrans with Toll’s existing freight forwarding operations is a key plank in our strategy to become the Asian region’s only truly integrated logistics provider."

Little says detailed integration planning can now start.

"Toll’s priority now is to work with the management team on an aggressive growth strategy for
the global freight forwarding business," he says.

The BALtrans Group, founded in 1982, is one of the largest Asia-based freight forwarding and logistics companies with an international network spanning all key markets in Asia, Africa, Middle East and Europe. The Group has more than 2,300 employees in over 20 countries.

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