• Skip to main content
  • Skip to primary sidebar

Ad – Bottom Content

Payload Asia

SF Holding takes over Kerry Logistics in $2.3b deal

Payload Asia

Leaderboard

  • Home
  • Latest News
  • Channels 
    • Carriers
    • Aircraft Manufacturers
    • Airports
    • Courier & Mail
    • Freight Forwarders
    • Express
    • Ground Handling & Cargo Terminals
    • Logistics
  • 12th Payload Asia Awards
    • About
    • Categories
    • 11th Payload Asia Awards
    • 10th Payload Asia Awards
    • 9th Payload Asia Awards
    • Awards Gallery
  • Subscribe
  • Advertise
  • More 
    • Event Calendar
    • Directory
    • Contact Us
Share

SF Holding takes over Kerry Logistics in $2.3b deal

February 11, 2021 by PLA Editor

S.F. Holding and Kerry Logistics Network Announce Strategic Investment and Cooperation

S.F. Holding and Kerry Logistics Network Announce Strategic Investment and Cooperation

Parcel delivery firm SF Holding is set to acquire a majority stake of Kerry Logistics as it aims to improve its international logistics capacity in a proposed ‘strategic investment and cooperation’ between the two companies, a press release confirmed.

The proposed takeover will see the Chinese courier take a 51.8 percent stake in Kerry Logistics at HK$18.8 (US$2.43) per share, with the deal valued at US$2.3 billion.

News broke of a potential deal last week as trading for both companies was halted in Hong Kong on Friday.

In a joint press statement on 10 February, the companies said Kerry Logistics will be positioned as SF Holding’s platform for international business, and the two will collaborate in China to ‘better align their respective businesses.’

Kerry Logistics Network opened a logistics centre in China’s Hebei province in January aiming to capture the market potential in chemical logistics. The Hong Kong-listed firm also plans to build a bonded logistics facility at Hainan’s free trade port, scheduled for completion in 2023.

“By tapping into different customer segments, SF Holding and Kerry Logistics Network will coexist as separate entities in Mainland China, Hong Kong and Macau,” Kerry Logistics said, noting that it will continue to grow its logistics businesses, both in terms of scale and coverage.

“The partnership is expected to create significant synergies to boost both companies’ growth and leadership in the logistics sector with clear business focuses and complementary strengths to bring value to investors,” the two added.

As part of the deal, Kerry Logistics will have to sell warehouse assets for HK$13.5 billion and its Taiwan business for NT$4.5 billion ($161 million) to its parent company, the statement said. SF Holding will offer cash for the proposed stake and plans to keep Kerry Logistics listed in Hong Kong.

The companies said the cooperation will bring together their core competencies across multiple verticals to create a ‘leading Asia-based global logistics platform.’

The Chinese group’s courier service SF Express has benefitted from the rise in online shopping in China fueled by e-commerce companies, and has been making moves to boost its logistics capabilities. In 2019, it completed the acquisition of Deutsche Post DHL Group’s supply chain assets in China for 5.5 billion yuan ($855 million).

SF Airlines, the group owned express carrier, has been expanding its fleet last year, heeding the call for more freight capacity by completing the conversion of a B757-200F in November and launching an air cargo route from Changsha to Osaka in the same month. It is currently the largest cargo airline in China, with a fleet of 61 aircraft serving more than 70 cities.

Other Topics: Air & Cargo Services, air cargo, Air Cargo Asia, air cargo freight, Air Forwarding, air freight, Air Freight Asia, Air Freight Logistics, air freighter, air freighting, Air Logistics Asia, Air Shipping Asia, airlines cargo, airways cargo, asia cargo news, cargo aviation, DHL, Kerry Express, Kerry Logistics, mergers and acquisitions, SF Airlines, SF Express, SF Holding

Related Articles

  • DHL Express and Neste ink landmark deal to use made-in-Singapore sustainable aviation fuel for international flights
  • CHI Cargo Group continues growth strategy with SF Airlines as new customer
  • DHL Global Forwarding announces strategic leadership appointments in Asia Pacific
  • CAAS: Government and industry leaders gather in Singapore to chart the future of aviation in High-Level Aviation Week
  • DHL reaffirms commitment to Malaysia’s economic growth, identifies opportunities through Strategy 2030
  • DHL Express and Air Hong Kong complete fleet transition to A330 freighters

Ad – After Content

Primary Sidebar

Trending News

  • CAICargoAi Unveils CargoMART Interline, revolutionising… CargoAi is proud to announce the launch of CargoMART Interline,…
  • lufthansa cargoLufthansa Cargo launches development of innovative… Lufthansa Cargo is developing a new type of virtual reality…
  • liege airport cargolandCargoLand takes off at Air Cargo Europe Air Cargo Europe in Munich last month provided the backdrop…
  • japan airlinesJapan Airlines launches cell transport service for… Japan Airlines Co., Ltd. (JAL) announces the launch of "J…
  • fedexFedEx empowers APAC businesses to navigate global… Federal Express Corporation, one of the world's largest express transportation…
  • 12 Payload Asia Awards Nomination12th Payload Asia Awards now open for nominations The 12th Payload Asia Awards is now officially open for…
  • Aerial View Commercial DockMilitzer & Münch opens new country unit in Singapore The Militzer & Münch Group continues on its growth course…

Payload Asia Awards

Subscribe To
Our Newsletter



Payload Asia continues to be the authoritative source for informative, accurate and up-to-date news and information on the air cargo industry and related sectors.

With its updated and refreshed look the online edition continues to provide high quality coverage on the Asia-Pacific, India-Middle East, Europe-CIS, North & South America and Africa air cargo markets.

© 2024 Harvest Information. All rights reserved. Privacy Policy

Partner Sites : Asia Food Journal and Television Asia Plus .

We use cookies and similar technologies to improve your browsing experience.
Continuing to use this site means you agree to our use of cookies. I agreeRead More
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled

Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.

Non Necessary

Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.

Analytics

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.

Performance

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

Advertisement

Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.

Save & Accept

Stay Updated!

Subscribe now to receive the latest news, updates, and exclusive insights. Don’t miss out!

 

By submitting this form, you consent to receive marketing emails from Payload Asia. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email.

Disclaimer: Translations on this website are automated using Google Translate. While we strive for accuracy, please be cautious, as machine translations may contain errors. For critical or sensitive content, consider seeking professional human translation. We are not liable for any reliance on the translated content.

1