NZ Post sells Australian Couriers Please unit for A$95 mln

Wed, 03 Dec 2014

By Paul McBeth Dec. 3 (BusinessDesk) - New Zealand Post, the state-owned mail delivery service, sold its Australian Couriers Please business to Singapore Post for A$95 million. The unconditional deal between the Wellington-based state-owned enterprise and the Australian subsidiary of Singapore Post was signed today, and is expected to be completed on Dec. 15, NZ Post said in a statement. The New Zealand SOE kept the unit's assets and liabilities confidential in its 2014 annual report as a result of the decision to sell it, and had previou...

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