SINGAPORE: Singapore Post (SingPost) said that it is in “exclusive discussions” with a possible buyer for its Australian business as part of a review of its operations that began in June.
According to Singapore Business Review, on June 21, SingPost brought in Lynch Markets Australia Pty Limited as a financial advisor to help the Board evaluate different options for its Australian operations.
While the company stated that talks are ongoing, SingPost has clarified that “there is still no certainty” that the deal will materialise, as reported by The Edge Singapore.
According to analysts, selling some of SingPost’s Australia-based subsidiaries, along with divesting SingPost Centre and other properties, could raise significant funds that might be used to reduce the company’s debt.
SingPost Centre alone is valued at over S$1 billion. /TISG