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Singapore Post is eyeing a 38% stake in Australian 3PL Freight Management Holdings for A$85m (US$60m) in cash.

The post company’s subsidiary, SingPost Logistics Holdings, agreed on Friday a conditional purchase that will see SingPost set up a new holding company in Australia, reports The Straits Times. SingPost said the acquisition was in line with its strategy of becoming “a leading e-commerce logistics solutions provider” focused in Asia Pacific.

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