This is part of the national postal service provider’s plans to achieve scale in the country
SINGAPORE Post (SingPost) announced on Friday (Jun 21) that it appointed Merrill Lynch Markets Australia the day prior as a financial adviser to its board.
SingPost said that the adviser will work with its board to “formulate optionalities for the group’s Australia businesses specifically”.
The group plans to achieve scale in Australia by exploring near-term partnerships that can contribute to growth.
It said that this will provide equity to deleverage its acquisition debt and establish an independent valuation benchmark. The group also intends to continue seeking opportunities for mergers and acquisitions and future liquidity options.
This comes after the national postal service provider reported on Mar 19 that it had completed a previous strategic review of its portfolio and identified five strategic thrusts that it plans to undertake in the next three years.
Shares of SingPost closed flat at S$0.45 on Thursday.
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