SingPost clarifies potential sale of Australian business

This was amidst recent reports in the Australian press. 

Singapore Post Limited (SingPost) has issued a clarification on recent articles in the Australian press regarding a potential sale of its Australian business, according to a bourse filing. 

On 21 June, SingPost appointed Lynch Markets Australia Pty Limited as a financial advisor to the Board to formulate optionalities for the group’s Australia business specifically.

However, the company said that the review by Merrill Lynch Markets Australia Pty Limited is still ongoing to determine the most appropriate range of optionalities for the group’s business in Australia.

They also pointed out that there is currently no certainty of any transaction.

The company will make further announcements when there are material developments.