Toll to take full ownership of China venture

Toll Holdings, Australia’s top logistics group, has agreed to buy the remaining 49% stake in ST-Anda Logistics, giving it full ownership of its China operation.

Reuters reported that Toll said in a statement the deal is subject to regulatory approvals and expected to complete in three to six months.

It did not disclose financial details of the deal.

Shenzhen-based ST-Anda is Toll’s only Chinese operation and runs logistics networks across mainland China with warehouses and depots in more than 30 cities.