Toll closes deal on Hong Kong forwarder BALtrans

By: Jason Whittaker


Toll says its takeover offer of BALtrans Holdings closed on Friday with acceptances of more than 99 percent being received.

Toll says its takeover offer of BALtrans Holdings closed on Friday with acceptances of more than 99 percent being received.

Toll Managing Director Paul Little, who has been appointed as a director and the Executive Chairman of BALtrans, says he is pleased the firm is now a part of Toll’s global freight forwarding strategy.

"BALtrans is a well-regarded global freight forwarder with a strong Asian base, " he says.

"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."

BALtrans shares will be suspended on the Stock Exchange of Hong Kong today until delisting, which will follow the completion of compulsory acquisition of the remaining shares not held by Toll.

Toll says BALtrans will become a wholly owned subsidiary of Toll by the middle of next month.

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