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Australia's Automotive Holdings to sell refrigerated logistics business to HNA Group for $213 mln

Published 23/11/2017, 08:52 am
© Reuters.  Australia's Automotive Holdings to sell refrigerated logistics business to HNA Group for $213 mln
AHG
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Nov 23 (Reuters) - Automotive Holdings Group Ltd AHG.AX said on Thursday it will sell its refrigerated logistics business to a unit of HNA Group (International) Co Ltd for A$280 million ($213.28 million) in cash.

The enterprise value of the deal will be A$400 million after including assumptions of finance lease liabilities associated with the refrigerated logistics business.

Stephen Cleary will remain with the refrigerated logistics business as CEO, the company said.

($1 = 1.3129 Australian dollars)

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