As part of its broader strategy to divest non-core assets and recycle capital, SingPost has sold its entire freight forwarding business conducted through Famous Holdings Pte Ltd (FHPL) and Rotterdam Harbour Holding (RHH) for approximately S$177.9m (US$139.2m).
The sale was completed in two parts, with DP World Logistics FZE acquiring FHPL and its related businesses for approximately S$125.5m (US$98.2m) and a consortium comprising ETC Etcetera Beheer, Dejox Beheer and van Munster & de Jong Investeringen acquiring RHH for approximately S$52.4m (US$41m).
“This is a step in SingPost’s strategy, announced in March 2024, to divest non-core assets and businesses to recycle capital. Following a comprehensive international sale process to explore various options for Famous Holdings, the board concluded that selling the business in two parts would secure the highest possible valuation,” said Simon Israel, chairman, SingPost.
This latest sale follows SingPost’s successful divestment of its Australia logistics business, Freight Management Holdings, in March 2025.
Read more on the FHPL and RHH sale here
In related news, UK independent parcel delivery company The Alternative Parcels Company (The APC) has announced its transition to new ownership by WS Holdco Limited, DBAY Advisors Limited and investors. Read the full story here