News / Kerry Logistics sells stake in Asia Airfreight Terminal to build M&A war chest

Kerry Logistics is part of a group of shareholders that have agreed to sell their stake in Hong Kong’s Asia Airfreight Terminal (AAT) to an investment firm.

Holistic Capital Investment, a subsidiary of Hong Kong Airlines, has concluded a sales and purchase agreement with Kerry, and Singapore firms Keppel Telecommunications & Transportation and airport services group SATS for 35% of AAT for a total of HK$875m (US$80.4m).

In an announcement to the Hong Kong stock exchange, Kerry indicated it had decided to sell mainly to build ...