Toll Holdings sails north with purchase of south-east Asian shipping company Perkins Group Holdings
As Asciano announced a $2 billion share sale yesterday, former parent Toll Holdings continued its recent spending spree with the purchase of shipping company Perkins Group Holdings.
But the sale is pending clearance from the Australian Competition and Consumer Commission (ACCC).
Toll, which announced last week it had reached an agreement with the Royal Government of Cambodia to operate the country’s railways on a 30-year concession, will look to take advantage of Perkins’s established services running from Darwin to Singapore via Timor Leste.
“The increasing importance of south-east Asian trade to northern Australia reinforces the future prospects for organic growth of the Perkins international shipping services linking Australia and Asia,” Toll Managing Director Paul Little says.
“With its potential for future regional growth we are confident our customers will find Perkins Shipping a valuable addition to the Toll Group.”
Perkins was founded nearly 50 years ago and its client base includes the United Nations, Australian Defence Forces, Shell, BP and McDermott Industries.