Japan Post, Allegro finalise Toll Global Express deal
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Japan Post and Allegro Funds have agreed a deal for Toll Group’s Global Express unit.
The deal is expected to see Japan Post record net proceeds worth less than $10 million for the unit, and Allegro would assume its liabilities.
Street Talk
It is slated to be announced later on Wednesday.
Japan Post’s told shareholders on Wednesday morning it was meeting to discuss the sale of some of Toll’s operations. The transaction would likely result in another large write down for the Japanese company.
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Japan Post, advised by JPMorgan and Nomura, and Allegro have been in exclusive talks to finalise a transaction for the past week, as revealed by Street Talk.