Brambles To Unload $2B Document Storage Unit In Demerger

Law360, New York (July 2, 2013, 3:05 PM EDT) -- Pallet and crate giant Brambles Ltd. will split off a document-storage unit worth up to $2 billion in one of Australia's biggest listing since the financial crisis after the company failed to ink a private equity sale last year, it said in a Tuesday filing.

Under the proposed terms, Brambles stockholders would receive shares in the newly listed business, Recall Holdings, proportionate to their Brambles stakes, while hanging onto their Brambles stock, the Australian company said. Brambles would let go of its Recall interest after the...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.