A major competitor to national operator Lindsay Australia has acquired more than 28 million shares in the company, resulting in it having a near 10 per cent voting share in the business.
Safe Driving Concepts, an entity controlled by Ron Finemore Transport, has acquired a total of 28,003,556 shares in Lindsay Australia. This means it now has a total voting power of 8.89 per cent.
Completed on Monday, the acquisition of shares means Australian transport icon Ron Finemore now has a sliver of voting power in the national trucking giant.
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Founded in 2004 following the sale of Finemore Holdings in 2001, Ron Finemore Transport currently runs more than 280 prime movers and 550 trailing equipment pieces.
The acquisition of shares comes just a week after Lindsay Australia announced the acquisition of Western Australia’s GJ Freight to extend its capabilities into regional WA.
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