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  • SF Express is an asset of SF Holding (Photo: SF Express).

11.02.2021

Artikel Nummer: 35178

Chinese companies plan big takeover


SF (Shun Feng) Holding, which is listed on the Shenzen stock exchange, is offering to buy a 51.5% stake in Kerry Logistics Network, Hong Kong. The cash offer involves more than 931 million shares costing HKD 18.80 (USD 0.56) per share.

 

In conjunction with the offer, Kerry Logistics Network's warehouse assets in Hong Kong will be disposed of to a wholly-owned subsidiary of Kerry Holdings to unlock its shareholder value, and for the company to operate under an asset-lighter model comparable to international industry peers.

 

To facilitate the transaction, the company's business in Taiwan, including the interest in Kerry TJ Logistics Company, which is listed on the Taiwan stock exchange, will also be sold to a wholly-owned subsidiary of Kerry Holdings Limited in compliance with the laws and regulations in Taiwan.

 

Under the strategic cooperation, Kerry Logistics Network will be positioned as S.F. Holding's platform for international business. S.F. Holding and the company will also collaborate with each other in Greater China to better align their respective businesses.

 

By tapping into different customer segments, S.F. Holding and Kerry Logistics Network will coexist as separate entities in Mainland China, Hong Kong and Macau. (sh)

www.kerrylogistics.com

 

 

 

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