June 27, 2018 / 11:55 PM / in 4 months

Australia's Automotive Holdings says sale completion of refrigerated logistics business delayed

June 28 (Reuters) - Automotive Holdings Group said on Thursday that the sale of its refrigerated logistics business to a unit of China’s HNA Group will not be completed by June 30 as earlier advised.

The automotive retailer said in a statement the delay occurred because HNA Group had not yet secured Australian foreign investment regulatory approval.

The Foreign Investment Review Board’s decision on the deal was now expected to be made on or about June 29, with the formal announcement on the decision expected in early July. (Reporting by Chandini Monnappa in Bengaluru; Editing by Stephen Coates)

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