2 September 2024

BDA advises Toll Group on sale of minority stake in Cargo Services to DP World

sold minority stake in

to

2024

BDA Partners is pleased to announce that its client, Toll Holdings Pty Limited, has agreed to sell its minority stake in Cargo Services (Logistics) Ltd to DP World Limited. Cargo Services is a Hong Kong based provider of global logistics services.

DP World has agreed concurrently to acquire a majority stake in Cargo Services and its subsidiaries, including CN Logistics International Holdings. Following the transaction, Cargo Services will become a wholly owned subsidiary of DP World.

BDA Partners acted as the exclusive financial advisor to Toll on this transaction.

Deal team

About Cargo Services (Logistics) Ltd

Founded in 1989 in Hong Kong, Cargo Services offers logistics solutions including sea and air freight forwarding, supply chain management, warehousing and distribution, e-commerce logistics and other value added services to customers in retail, fashion and luxury, food & beverage including wine and general goods. www.cargofe.com

About Toll Group

Founded in 1888 and based in Australia with dual headquarters in Australia and Singapore, Toll Group is an integrated logistics company offering global freight forwarding and contract logistics and distribution solutions. Toll serves over 20,000 customers across consumer & retail, manufacturing, technology and IOT, automotive and food & beverage, delivering over 500,000 air and sea shipments per annum. Toll employs over 16,000 staff and operates in over 150 countries. Toll Group is a wholly owned subsidiary of Japan Post, a Fortune 500 company with 200,000 employees, operating across banking, insurance, real estate, postal and logistics services. www.tollgroup.com

About DP World

DP World is a world leader in global supply chain solutions based in Dubai, United Arab Emirates, offering cargo logistics, port terminal operations, maritime services and free trade zones. Since its founding in 1972 as a Dubai local port operator, DP World has become a global logistics provider with operations across every continent. From factory floor to customer door, DP World provides end-to-end solutions through its global network of world-leading logistics infrastructure and assets. www.dpworld.com

About BDA Partners

BDA Partners is the global investment banking advisor for Asia. We are a premium provider of Asia-related advice to sophisticated clients globally, with over 25 years’ experience advising on cross-border M&A, capital raising and financial restructuring. We provide global reach with our teams in New York and London, and true regional depth through our seven Asian offices in Mumbai, Singapore, Ho Chi Minh City, Hong Kong, Shanghai, Seoul and Tokyo. BDA has deep expertise in the Chemicals, Consumer & Retail, Health, Industrials, Services, Sustainability and Technology sectors. We work relentlessly to earn our clients’ trust by delivering insightful advice and outstanding outcomes.

BDA Partners has strategic partnerships with William Blair, a premier global investment banking business, and with DBJ (Development Bank of Japan), a Japanese Government-owned bank with US$150bn of assets.

US securities transactions are performed by BDA Partners’ affiliate, BDA Advisors Inc, a broker-dealer registered with the Securities and Exchange Commission (SEC). BDA Advisors Inc is a member of the Financial Industry Regulatory Authority (FINRA) and SIPC. In the UK, BDA Partners is authorized and regulated by the Financial Conduct Authority (FCA). In Hong Kong, BDA Partners (HK) Ltd is licensed and regulated by the Securities & Futures Commission (SFC) to conduct Type 1 and Type 4 regulated activities to professional investors. www.bdapartners.com

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