News
SF Holding and Hong Kong-listed Kerry Logistics Network Limited have unveiled the proposed strategic investment and cooperation between the two companies.
Subject to satisfaction of certain pre-conditions, Flourish Harmony Holdings, being an indirect wholly-owned subsidiary of SF Holding, will make a partial offer to obtain 931,209,117 ordinary shares of Kerry Logistics Network, representing approximately a 51.8% stake of the company at a cash offer price of HK$18.80 per share. The deal is worth HK$17.55 billion (US$2.264 billion).
Under the strategic cooperation, Kerry Logistics Network will be positioned as SF Holding's platform for international business. SF 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.
Subsequent to the completion of the proposed transaction, Kerry Logistics Network's listed status on the Hong Kong Stock Exchange will remain unchanged.
