Sea Swift, an Australian marine logistics provider based in Cairns, has entered an agreement with Toll Group for the purchase of its Perkins Group assets related to its far North Queensland and Northern Territory general freight operations for AU$45m.
Under the agreement Sea Swift will take on the marine supply activities in the region previously provided by Toll.
The proposal is subject to Australian Competition and Consumer Commission approval, with a decision on this expected in March 2015, if approved it is expected the sale of the business will be concluded in April 2015. Until that time the business will continue to operate normally with no changes to services.
Following approval, Sea Swift and Toll will be working collaboratively with customers and suppliers to ensure essential services to remote northern Australia transition smoothly to Sea Swift and remain unaffected by the change.
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