Brambles Agrees to Combine CHEP China With Loscam Greater China
November 27 2022 - 5:24PM
Dow Jones News
By Rhiannon Hoyle
Brambles Ltd. on Monday said it will combine its CHEP China
business with an arm of Loscam Group to create the largest pallet
and automotive container pooler in China.
Brambles said it has agreed to sell the unit to Loscam (Greater
China) Holdings Ltd. It will issue shares to Brambles, which will
have a 20% stake in the combined entity.
The sale has an enterprise value of $132.2 million, the
Australian-listed company said.
Loscam Group is owned by Sinotrans Ltd. and two private-equity
firms, Trustar Capital--formerly known as Citic Capital
Partners--and FountainVest Partners.
The deal is expected to be completed by the end of the first
quarter of 2023, Brambles said.
Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com
(END) Dow Jones Newswires
November 27, 2022 17:09 ET (22:09 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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