Singapore Post is continuing to streamline its business portfolio by unwinding cross-holdings with Alibaba Group in a logistics subsidiary and a China-based international delivery company.
Based on an agreement from January 2023, the two companies will mutually exercise options to unwind their respective minority cross-shareholdings in Shenzhen 4PX Information and Technology Co,. Ltd. (“4PX”) and Quantium Solutions International Pte. Ltd. (“QSI”).
"The execution of this agreement enables the efficient unwinding of our cross-holdings, allowing SingPost to simplify our investment portfolios, and pursue strategic objectives," said Simon Israel, Chairman of the Board, SingPost.
The move follows SingPost’s sale of its Australian logistics business, Freight Management Holdings (FMH), for A$1 billion (S$845 million) in March.
Transaction details
