The Tasmanian Liberal Government welcomes the sale of Toll Global Express to Australian company, Allegro Funds, which includes the important and successful Bass Strait shipping service.

This sale will provide a greater management focus on shipping and logistics and, coupled with the announcement that Allegro will invest $500 million to support and grow the business, demonstrates the strong confidence in this business.

This shipping service provides a vital role in supporting Tasmanian supply chains and the export of Tasmanian goods and services, estimated at around $5 billion a year and representing nearly 16 per cent of Tasmania’s economy.

I am assured that Tasmanian suppliers and customers will see no change in the service, with business as usual to support the continuing record freight volumes.