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AUSTRALIA'S BRAMBLES SELLS US EQIPMENT RENTAL BUSINESS.
SYDNEY, Jan 2 Asia Pulse - Brambles Industries Ltd (ASX:BIL) has sold its US equipment rental business to rentals group National Equipment Services Inc for $US122 million ($A239.92 million).
National paid $US94 million ($A184.86 million) in cash up front for Brambles Equipment Services Inc (BESI), with the balance to be paid on collection of BESI's trade receivables, Brambles said.
Brambles said BESI's net assets were worth around $US160 million ($A314.65 million), and that the business had reported earnings before interest and tax of $US9 million ($A17.7 million) for the year to 30 June 2001.
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Source: HighBeam Research, AUSTRALIA'S BRAMBLES SELLS US EQIPMENT RENTAL BUSINESS.