Singapore Post mulls acquiring Dash Logistics stake

The firm Singapore Post is interested in offers less-than-truckload service in Vietnam.

The Board of Directors of Singapore Post Limited announced that it has entered into a Capital Contribution Transfer Agreement through its wholly-owned subsidiary Singapore Post Enterprise Private Limited with Ms Tran Le Quynh Anh and the existing shareholder of Dash Logistics Company Limited.

The abovementioned seller has agreed to sell and SPE has agreed to acquire 30% of the charter capital of Dash Logistics which is currently held by Ms Tran.

The consideration for the proposed acquisition is US$305,000 and was arrived at after negotiations on a willing buyer, willing seller basis.

SingPost said in the announcement that the acquisition consideration will be satisfied wholly in cash upon completion under the agreement, and this will be funded from the company’s internal resources.