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AP Eagers Announces to Complete Sale of Refrigerated Logistics

30 Jun 2020  |  15:57:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: APE completes sale of Refrigerated Logistics

AP Eagers announced the completion of the sale of Automotive Holdings Group's ("AHG") Refrigerated Logistics division ("Refrigerated Logistics"), to Anchorage Capital Partners ("Anchorage"), a Sydney-based private equity firm. Refrigerated Logistics comprises all of the transport and warehousing operations, and associated employees, of Rand, Harris, Scott's and JAT. The Company updated that it received cash proceeds of $75m. The transaction will generate an estimated accounting loss of $20m together with a reduction in net debt of $60m.

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