Toll buys McLaughlin Freightlines for $25m

Logistics provider Toll Group has bought a Queensland poultry transport business and also cut its holding in a Shenzhen property developer, reported The Advertiser.

Toll paid about US$25 million for McLaughlin Freightlines and expects the purchase to be earnings per share positive in its first year.

Toll Group managing director Paul Little said it had sold down most of its one-sixth of a stake in Shenzhen Chiwan Petroleum Supply Base for about $50 million.
(Source:www.cargonewsasia.com)