Singapore Post (SingPost) has bought a 30% stake in Vietnam-based Trans Logistics Corporation (ITL) as it looks to gain a foothold in the South East Asian country.
The deal – which is worth US$180m – was struck through SingPost’s wholly-owned subsidiary, Singapore Post Enterprise Private Limited (SPE).
ITL offers integrated logistics solutions with businesses in air and sea freight forwarding, third-party logistics solutions and distribution, and general sales agency for airlines. Full story
