Toll examines NZ acquisitions after rail firesale

By: Jason Whittaker


Toll Holdings says it has completed the NZ$690 million sale of its New Zealand rail and ferry operations to the

Toll Holdings says it has completed the NZ$690 million sale of its New Zealand rail and ferry operations to the New Zealand Government.

Toll announced in May it would sell the assets back to the Government.

Toll Managing Director Paul Little says the company remains committed to the development of its remaining logistics operations in New Zealand.

He says the company is reviewing "a number" of other acquisitions in the country, which will improve the scale and reach of Toll's operations.

Despite the sale Little says rail can be a long-term sustainable business with the support of the Government.

"We recognise the efforts of the entire workforce in significantly improving the business over the past four years, and positioning rail as the most efficient modal alternative for future transport demand throughout the country," he says.

Toll will use proceeds of the sale to retire debt and increase cash reserves.

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