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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Brambles Limited | ASX:BXB | Australian Stock Exchange | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.35 | -1.67% | 20.61 | 20.40 | 20.76 | 20.99 | 20.43 | 20.95 | 4,050,092 | 07:50:00 |
From Mar 2022 to Mar 2025
By Rhiannon Hoyle
Brambles Ltd. on Monday said it will combine its CHEP China business with an arm of Loscam Group to create the largest pallet and automotive container pooler in China.
Brambles said it has agreed to sell the unit to Loscam (Greater China) Holdings Ltd. It will issue shares to Brambles, which will have a 20% stake in the combined entity.
The sale has an enterprise value of $132.2 million, the Australian-listed company said.
Loscam Group is owned by Sinotrans Ltd. and two private-equity firms, Trustar Capital--formerly known as Citic Capital Partners--and FountainVest Partners.
The deal is expected to be completed by the end of the first quarter of 2023, Brambles said.
Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com
(END) Dow Jones Newswires
November 27, 2022 17:09 ET (22:09 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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