THREE TIMES INCREASES SHAREHOLDING IN ABX LOGISTICS (AUSTRALIA)
Three Times Pty Ltd., an investment firm of Chris Dunphy, Frank Guerra and the Santilli Group, has acquired a majority share of ABX Logistics (Australia) Pty, Ltd.
ABX Logistics, the Brussels-based freight logistics subsidiary of the Belgian National Railway, said the move would help it increase its presence in the Australian cargo market.
On May 5, ABX Logistics (Australia) bought the operations of International Cargo Services Pty, which has offices in Perth and Adelaide.
ABX Logistics (Singapore) Pte. Ltd. will continue to hold a minority shareholding in the Australian business and equal board seats, the company said.