Capital Return Imminent Following Completion of Sale of Brambles’ RPC Pooling Business
The return of USD 1.95 billion of capital to wide-moat Brambles shareholders is imminent, following completion of the sale of its reusable plastic container, or RPC, business, IFCO, on May 31. Around 80% of aftertax proceeds, estimated at USD 2.36 billion, are to be returned to shareholders. A capital return of USD 300 million will be paid in October 2019, equivalent to approximately AUD 0.29 per share. An on-market share buyback programme will be deployed in fiscal 2020 to return the remaining ...Brambles is a supply-chain logistics company operating primarily through the CHEP and IFCO brands. Co. has three segments: Pallets segment, which primarily serves the consumer goods, fresh produce and beverage industries, and sub-divided into three regions: Americas, Europe, Middle East and Africa, and Asia-Pacific; Reusable Plastic or Produce Crates segment, which serves the fresh produce and food industry and comprising the IFCO RPC pooling business worldwide and the CHEP RPC pooling businesses in Australia, New Zealand and South Africa; and Containers segment, which comprises four business units: Automotive, Intermediate Bulk Containers, Oil and Gas, and Aerospace.
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