St. Louis Business Journal -- YRC Worldwide Inc. has completed the sale of its logistics business to Austin Ventures for $38.7 million. The Overland Park, Kan.-based trucking firm (Nasdaq: YRCW) said Monday that it received the initial proceeds of $33.6 million, with an additional $5.1 million placed in escrow to cover transferring ownership of foreign subsidiaries and for indemnification purposes.
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