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Singapore Post Completes Acquisition Of Local Subsidiary And Disposal Of DataPost
Daily Bulletin | 02 September 2015
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Singapore Post’s (SingPost) wholly-owned subsidiary, General Storage Company, has completed the acquisition of the entirety of Store Friendly Self Storage Group, from Store Friendly Asia Holdings, as well as disposal of 90 percent interest in DataPost.

Store Friendly Self Storage Group is a local firm in the business of providing personal and business storage facilities services in Singapore, and will be acquired with a consideration of $12 million.

Under the acquisition terms, SingPost may potentially pay a further sum of $4 million if certain terms and conditions are fulfilled.

SingPost has also announced the completion of disposal of 90 percent interest in DataPost and certain participatory rights. Upon disposal, DataPost has ceased to be a wholly-owned subsidiary of SingPost. The consideration of $39.3 million payable in cash was received.

Singapore Post  0.940 -0.010 -1.05%   
Business: [FY19 Turnover] Post and Parcel (47.8%), logistics (31%), eCommerce (15.5%), property (5.7%).

Insight: May-19, FY19 revenue rose 2.9% to $1.6b largely du... Read More

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