Australian company Toll Holdings Ltd (OTC: THKUY) announced its plans to acquire 40% of Chinese firm Tianjin Anda Logistics. 

The company has not disclosed the price of the stake. "The Chinese automotive market is the largest in the world and offers immense opportunities for Toll to leverage our industry leading automotive capabilities," Toll Managing Director Paul Little said.

Toll Holdings shares dropped 0.09% to close at $10.94 on Friday.

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