Overseas Investment Office approves Big Chill Acquisition

1 MinuteBy NZ Trucking magazineMarch 16, 2020

Freightways‘ CEO Mark Troughear.

The Overseas Investment Office (OIO) has approved Freightways Limited‘s bid to buy Big Chill Distribution Limited for more than $117 million.

Last October Freightways agreed to purchase 100% of the shares of Big Chill, subject to OIO approval.

The OIO has given its approval and completion of the purchase is expected to occur on 1 April 2020. Once completion has occurred, the company will provide more information regarding the Big Chill business and its integration into Freightways.