SingPost acquires General Storage
The acquisition is worth S$37m.
Singapore Post Limited announced that it has completed the purchase on 29 January 2013.
It acquired 100% stake in General Storage Company Pte. Ltd. from Asia Pacific Storage Company Limited.
General Storage operates a self-storage business in Singapore, under the Lock+Store brand, with facilities located in Tanjong Pagar and Chai Chee.
SingPost Storage now holds the entire issued and paid-up share capital of General Storage. SingPost Storage is a wholly-owned subsidiary of SingPost Investments.