Business Services Industry
Brambles flavour of the month after re- structure announcement.
Australasian Business Intelligence, December, 2005
Dec 11, 2005 (The Australian Financial Markets Newsletter -
INSTO - ABIX via COMTEX) -- There are plans for Brambles to sell its Cleanaway and Industrial Services enterprises. The company will concentrate on its CHEP pallets and Recall document storage units. It will spend roughly $A2.8 billion
on a share buyback and abandon its British listing in favour of an Australian listing alone. News of the plans caused ABN AMRO to increase its target price for Brambles from
$A11.10 to $A11.30, and to raise the firm's earnings forecast for 2008 by four per cent. Analysts have welcomed the re-structuring,
with Citigroup increasing its price target from...
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