Cargo Services 'plan divestiture from EV Cargo'

PRESS RELEASE 

Cargo Services plan divestiture from EV Cargo

HONG KONG, 20 FEBRUARY 2023 – Cargo Services Group (“Cargo Services”), a leading supply chain total solution service provider, and JL Enterprises Holdings Limited (“JL Enterprises”), a family office that invests in freight forwarding and logistics sector, jointly announced today that they plan to divest completely from their investments in EV Cargo Holdings Limited (“EV Cargo”), a logistics firm and a portfolio company managed by the private equity company, EmergeVest.

Mr. John Lau Shek Yau, founder of Cargo Services as well as JL Enterprises, was a key backer of EmergeVest since its inception in 2013.  

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 About Cargo Services Group:

Cargo Services Group, founded by John Lau Shek Yau in 1989, is a leading provider of supply chain total solutions services as well as one of the top freight forwarders in China and Hong Kong.  Cargo Services Group has a strong logistics network spreading across Asia, Australia, Europe, the Indian subcontinent, the Middle East, South Africa, and the United States of America.

 About JL Enterprises:         

Founded in 2000 by John Lau Shek Yau in Hong Kong, JL Enterprises Holdings Limited is a leading family office that invests in the logistics sector globally.