Transport and logistics company, Toll Group, has responded to recent reports of a public exit.
Recently Toll filed an application with the Australian Securities and Investments Commission to change the company type from ‘Public Limited’ to ‘Proprietary Limited’.
“This change simply reflects the fact that given that Toll Holdings is 100 per cent owned by Japan Post, it is more appropriate to structure Toll as a proprietary company rather than a public company,” a Toll spokesperson told Trailer.
“The change has no impact on the liability of our shareholder, Japan Post.”
In other news, Toll is changing its leadership.