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Key takeaway: A minority stake sale now, with a US listing positioned as the longer-term goal – the underlying numbers point to a real, measured win for K+N shareholders as the process plays out.

For much of the past year, word has circulated in freight forwarding circles about the future of Kuehne + Nagel’s Chinese air and ocean unit, Apex Logistics. Early feedback from investment bankers suggested Apex itself might be sold outright.

More recently, people closer to the ...

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