Expanding our footprint in Australia with Allied Express

Freightways Ltd has announced its proposed transaction with Allied Express Transport Pty Ltd, which will act as a significant entry point to the Australian market for Freightways Express Package Division, providing the company with a successful oversized courier item model to implement in New Zealand.

The Transaction, which is expected to be EPS accretive to Freightways from completion and deliver in excess of A$20m EBITA in FY23, will be funded by a A$100m Freightways share issuance to the McDowell family and ~A$60m of cash drawn from Freightways debt facilities.

Completion is expected to occur in on or after 30 September 2022, subject to customary conditions precedent.