Brambles Sells Aerospace Logistics Business for US$125 Million
02 November 2016 - 9:18AM
Dow Jones News
By Rebecca Thurlow
SYDNEY--Logistics company Brambles Ltd. (BXB.AU) is selling its
aerospace business to Swedish private equity group EQT Partners for
US$125 million in cash.
Sydney-based Brambles said Wednesday it has signed a binding
agreement to sell CHEP Aerospace Solutions to the EQT
Infrastructure II fund. The deal has an enterprise value of US$130
million.
CHEP Aerospace provides pallets and containers for loading
luggage and freight on passenger and cargo planes, serving over 90
airlines through more than 420 airports.
Brambles said the sale won't impact its guidance for sales
revenue growth between 7% and 9% in fiscal 2017 and underlying
profit growth between 9% and 11% during the same period, in
constant-currency terms.
The transaction is expected to be completed later this
month.
- Write to Rebecca Thurlow at rebecca.thurlow@wsj.com
(END) Dow Jones Newswires
November 01, 2016 18:03 ET (22:03 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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