SingPost to reduce stake in GD Express Carrier

JAN 28, 20169:32 AM

SINGAPORE Post (SingPost) has entered into a conditional shares sale agreement with Yamato Asia, a wholly-owned subsidiary of Yamato Holdings Co, to pare its stake in its associate company GD Express Carrier (GDEX) for a total of RM239.1 million (about S$78.4 million).

“The reduction in the stake will free up capital to allow the group to further invest in its eCommerce logistics operations across the region including its eCommerce logistics warehousing capabilities in Malaysia through its regional logistics arm Quantium Solutions,” said SingPost.

Comments: Despite this, it seems like there is alot of selling…

Read original article:
http://www.businesstimes.com.sg/companies-markets/singpost-to-reduce-stake-in-gd-express-carrier

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