Singapore Post (SingPost) has successfully divested its entire freight forwarding business, Famous Holdings, fetching approximately S177.9 million. Announced on July22, this move delivers an estimated realised gain of S10.5 million and brings in around S$104 million in cash for the company.
The sale was conducted through two separate transactions. In the first, global supply chain solutions provider DP World Logistics FZE acquired all shares of a unit belonging to SingPost Logistics Investments for roughly US97.7million(S125 million). In the second transaction, a consortium comprising certain minority shareholders of Famous Holdings purchased the full shareholding of Rotterdam Harbour Holding for about €35.7 million (S$52.4 million). Rotterdam Harbour Holding is a subsidiary of SingPost eCommerce Logistics Holdings and was part of the Famous Holdings group being sold.
As of March 31, 2025, the consolidated net asset value (NAV) of Famous Holdings, including Rotterdam Harbour Holding, stood at approximately S176 million. Excluding Rotter dam Harbour Holding, Famous Holdings′ NAV was S146 million. Rotterdam Harbour Holding itself had an NAV of S$30 million as of that date.
SingPost Chairman Simon Israel stated that this divestment is a key step in the company's strategy, announced in March 2024, to dispose of non-core assets and recycle capital. "Following a comprehensive international sale process exploring various options for Famous Holdings," Israel said, "the board concluded that selling the business in two parts would secure the highest possible valuation."
The proceeds from these disposals are expected to benefit SingPost by monetising non-core assets, strengthening the company's cash balance, and ultimately enhancing shareholder value.
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