NZ Post paid $52m for Fliway Group

NZ Post paid $52m for Fliway Group. (Image: NZ Post)

Thu, 20 Oct 2022

NZ Post paid more than $50 million to acquire Fliway Group from its Singaporean owners, who sold the formerly listed company at a loss.In March, NZ Post announced it had bought Fliway Group from Singapore-based group Yang Kee Logistics, but didn’t reveal a sale price at the time.However, the state-owned postal company’s annual report says it paid $52m for the company, just over $3m less than it was sold for five years ago.In 2017, Yang Kee bought the company for $55.4m.Fliway is an Auckland-based transport, warehousing and freight s...

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