New Zealand Post has sold its Australian courier company to Singapore Post for $A95 million.
Brian Roche Photo: RNZ
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Chief executive Brian Roche said the sale would allow the parcel and post company to focus on growing its New Zealand business.
Mr Roche said CouriersPlease had performed well for New Zealand Post since it bought the business in 2012, but the profit from the sale would help the state-owned enterprise revitalise its mail and logistics business.
However, how much it had available to reinvest would depended on how much, if anything, the Government would want by way of a dividend.