Toll finalises car, refrigerated transport sales

Toll finalises car, refrigerated transport sales

Toll Group has completed the sale of its Australian finished vehicle distribution service to PrixCar and the refrigerated business to Rand Refrigerated Logistics.

PrixCar is an automotive storage, processing and rectification specialist, a 50-50 joint venture between Toll and K-Line Auto-Logistics Pty Ltd. K-Line Auto-Logistics is half owned by Qube Logistics, which contributed $20m to the transaction.

As part of the transaction, Toll received $88.4 million cash. The sale generated a pre-tax gain of $44 million (approximately $35 million after tax), which will be recognised in the 2013 financial year.

Toll retains its 50 per cent interest in PrixCar, and will continue to account for its 50 per cent share of PrixCar

You may also like to read:

Comments are closed.


Sign up with your business email address to keep up with the latest industry news from T&L. Newsletter sent every week.

Most Read

Kalmar launches 9-18t lithium battery electric forklifts
Kalmar, part of Cargotec, has introduced a medium electric f...
Technology => efficiency – from MHD magazine
Bart De Muynck Government regulations requiring greater com...
The SMART Distribution Centre opens
Schneider Electric has successfully completed the digital tr...
Australian retail: officially in recession
Phil Chapman “GFC-level terrible.” Those were the wo...
Moving with the times – from MHD magazine
Peter O’Connor Data warehouses are far from new. The term...
Own the future – from MHD magazine
Martin Kohl The distribution centre of the future will need...

Supported By