Singapore Post May Benefit From Sale of Australian Business -- Market Talk

Dow Jones12-05

0319 GMT - Singapore Post may benefit from selling its Australian business, UOB Kay Hian's Llelleythan Tan Yi Rong says in a research report. Pacific Equity Partners recently agreed to acquire Freight Management Holdings at enterprise value of A$1.02 billion, the analyst notes. Singapore Post would get A$776 million in cash and post a one-off gain on disposal of around S$312 million upon completion. The postal service provider intends to use the cash proceeds to deleverage its balance sheet, which would lead to substantial interest cost savings and turn it into a net cash position, the analyst adds. The brokerage raises the stock's target price to S$0.720 from S$0.610, with an unchanged buy rating. Shares are 1.7% lower at S$0.585. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

December 04, 2024 22:19 ET (03:19 GMT)

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Pacific Equity Partners recently agreed to acquire Freight...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SG9999002414.USD","symbol_name":"LIONGLOBAL SINGAPORE TRUST (USD) ACC","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2489510862","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2489510862","pubTimestamp":1733368740,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0319 GMT - Singapore Post may benefit from selling its Australian business, UOB Kay Hian's Llelleythan Tan Yi Rong says in a research report. 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