Transport and logistics provider Toll Holdings Limited
(ASX:TOL) has sold a part of its Toll Refrigerator business to Automotive Holdings Group Limited
(ASX:AHE).
Automotive will pay $6.5 million for the interstate linehaul and warehousing operations of Toll Refrigerator.
The operations posted a small operating loss in the last financial year, despite generating revenues of about $75 million.
Toll’s Managing Director has cited challenging market conditions for the sale and says the divestment was the best option.
Toll reported a net profit of $161 million in the first half of the 2012 financial year.
