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Japan Post says to discuss sale of Australian logistics business Wednesday

TOKYO, April 21 (Reuters) - Japan Post Holdings Co Ltd said its board would meet on Wednesday to discuss the sale of part of its Australian logistics arm Toll Holdings, responding to a Nikkei business daily report regarding the sale.

The Japanese company will sell loss-making Toll’s delivery business in Australia and New Zealand to Australia’s Allegro Funds for about 1 billion yen ($9.25 million) and assume “billions of U.S. dollars” of Toll’s debt, resulting in a special loss of 70 billion yen, the Nikkei reported. ($1 = 108.0900 yen) (Reporting by Takashi Umekawa Editing by Chang-Ran Kim)

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