November 22, 2017 / 9:53 PM / in 24 days

Australia's Automotive Holdings to sell refrigerated logistics business to HNA Group for $213 mln

Nov 23 (Reuters) - Automotive Holdings Group Ltd said on Thursday it will sell its refrigerated logistics business to a unit of HNA Group (International) Co Ltd for A$280 million ($213.28 million) in cash.

The enterprise value of the deal will be A$400 million after including assumptions of finance lease liabilities associated with the refrigerated logistics business.

Stephen Cleary will remain with the refrigerated logistics business as CEO, the company said.

$1 = 1.3129 Australian dollars Reporting by Aditya Soni in Bengaluru; Editing by Catherine Evans

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