toll interested in brambles

RANSPORT and logistics group Toll Holdings says industry services provider Brambles is very attractive to Toll.
"We remain of the opinion, at board level, that the Brambles company is a very attractive one for Toll," Toll chief executive Paul Little said today.

"We also are conscious of the fact that a lot of the benefits that Toll would derive from a closer working relationship with Brambles would be derived out of Australia, particularly in the Asian region.

"So we see Brambles as a good opportunity. We certainly haven't lost any of our enthusiasm for that opportunity."

Mr Little said Toll had been looking at Brambles for "quite some time".

He said the market would have to wait to see how Toll's strategy unfolds over the next couple of months.

Mr Little said Toll would not be disclosing the precise nature of its interest in Brambles at this stage.

Mr Little said Toll had invested $83 million in taking a small stake in Brambles.

Mr Little said Toll was not seeking to compete with infrastructure group Asciano, which was spun off from Toll this year and which has also taken a small stake in Brambles.

"We're not looking at this along the lines of a competition with Asciano. This is more about the way Toll believes it can add value for not only its shareholders but Brambles shareholders," Mr Little said.

"I firmly believe we have a unique advantage in that area and one that, hopefully will become more transparent as time goes on."

Mr Little said Toll would not disclose at this stage the structure or whether or not Toll would be attempting to out in place a merger with Brambles or any other structure involving Brambles.

"At this stage, we're at the point of determining how best Toll should go forward," he said.