Business
Nominal Toll sale price demonstrates Japan Post’s disaster – The Australian Financial Review
One of the most important transactions of the decade turned out to be a complete failure for the Japanese postal and insurance giant.
What they got was a company of internal fiefdoms, archaic financial and computer systems and organised crime.
Former executives said drug dealers and insurance scammers had infiltrated Toll Global Express, the division that, despite its name, moves stuff around Australia and New Zealand.
Japan Post this week agreed to sell the business to Allegro Funds, a private equity investor, for $7.8 million, according to Nikkei.
Global Express generates about $3.2 billion in revenue, according to a summary…
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