3PL/Logistics

The Toll Group has agreed to acquire full ownership of ST-Anda Logistics and a 40% stake in BIC Logistics

The Toll Group has reached agreement with China Merchants Group to acquire all the remaining 49% shares in Shenzhen -based ST-Anda Logistics

According to Toll Group managing director Paul Little, the group has, for some time, considered its Chinese logistics operations to be of strategic significance to its international business

ST-Anda operates an extensive logistics network across Mainland China, with warehouses and depots in more than thirty cities and a distribution network covering more than 1,500 cities across the country

The acquisition remains subject to Chinese regulatory approvals which are expected to take three to six months to obtain

The Toll Group now has operations in more than fifty countries worldwide

Last week, Toll agreed to acquire an equity stake in India-based BIC Logistics, a provider of road, rail and air transport stretching across India

Toll would initially acquire 40% of BIC Logistics, with the option of moving to majority and beyond over the next two years This acquisition makes Toll one of the most significant foreign investors in India's transport and logistics industry

Whilst BIC will continue to operate as an independent business, its interest will be aligned with Toll's existing operations"