SingPost has appointed Merrill Lynch to help "formulate optionalities" for its growing business portfolio in Australia.
The company, which derives a growing proportion of its revenue from Australia and no longer from domestic mail, is doing this as part of its overall strategic review "to enhance shareholder
returns and ensuring the group is appropriately valued."
As indicated earlier, one of the ways the company plans to do so is to achieve scale in Australia by exploring near term growth partnerships and to provide equity to lower debt incurred from acquisitions.
In addition, SingPost wants to establish "an independent valuation benchmark" and explore further M&A opportunities and "seek future liquidity options to maximise value".
