The Australian Financial Review (AFR) reports:

Private equity firm Allegro Funds is in the box seat to acquire Toll Group’s Australian freight and freight forwarding arm, Toll Global Express.

Toll owner Japan Post received two offers for the Global Express unit a fortnight ago, and was expected to nominate one bidder for a final round of exclusive talks on Tuesday.

As first reported by this column on Tuesday, Allegro Funds is the preferred party having edged in front of rival acquirer, American buyout firm Platinum Equity.

Australia’s Macquarie Capital is advising the Chester Moynihan and Adrian Loader-led Allegro, sources said.

Allegro and its advisers are expected to finalise the transaction documentation with Japan Post and its camp in coming days.

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