Feature, Freight News, Logistics, Business, Forwarding

China’s SF Holding takes majority stake in Kerry Logistics

[ February 10, 2021   //   ]

Chinese logistics company SF Holding is to take a 51.5% stake in Hong Kong-based forwarder Kerry Logistics Network, subject to conditions. At the same time, Kerry’s warehouse assets in Hong Kong will be disposed of to a wholly-owned subsidiary of Kerry Holdings Limited to unlock shareholder value, This will allow Kerry to operate under an asset-lighter model comparable to international industry peers. Kerry’s business in Taiwan, including the interest in Kerry TJ Logistics Company ill also be sold to a wholly-owned subsidiary of Kerry Holdings. The proceeds of this sale will be retained by the Company for its ongoing growth and development.

Kerry Logistics Network will be become SF Holding’s platform for international businessand the two companies will also collaborate with each other in Greater China. However, SF Holding and Kerry Logistics Network will coexist as separate entities in Mainland China, Hong Kong and Macau.