The Automotive Holdings Group Limited (ASX: AHG) share price was up by 7 per cent on Thursday as the company announced it has entered into an agreement to sell its refrigeration businesses to a Chinese buyer.
Automotive Holdings plans to sell its refrigerated logistics business, consisting of the operations of Rand Transport Refrigerated Logistics, Harris Refrigerated, Scott?s Refrigerated Freightways Pty Ltd, and JAT Refrigerated Road Services, to CC Logistics (Australia) Pty Ltd, a wholly-owned subsidiary of Chinese company HNA Holding Group Co Ltd (HKG: 0521), for an enterprise value of $400 million.
The $400 million is to comprise approximately $280 million
The Automotive Holdings Group Limited (ASX: AHG) share price was up …
Read the full article at: https://www.fool.com.au/2017/11/24/why-the-automotive-holdings-group-ltd-share-price-just-rocketed-higher/