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Published in TZ Latest News 17 February, 2015 by The TZ Newswire Staff

Japan Post agrees $5.1 billion takeover of Australia’s Toll Holdings

SYDNEY/TOKYO (Reuters) – Financial giant Japan Post Holdings Co Ltd launched its global expansion strategy with its largest ever deal on Wednesday, agreeing a A$6.5 billion ($5.1 billion) takeover of Australian freight and logistics firm Toll Holdings Ltd. The proposed cash acquisition would give Japan Post a reach spanning 55 countries and a surge in earnings power ahead of a planned listing later this year, as it aims to become a leading international logistics player as well as one of the world’s biggest financial institutions.

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