Toll sells part of Toll Refrigerated July 05, 2012 12:45 PM
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.