News / Maersk’s $3.6bn purchase of Li & Fung's logistics arm a 'significant milestone'

© Irina Fedorova

Maersk’s proposed $3.6bn acquisition of Hong Kong-based LF Logistics represents a “significant milestone” in its transformation into a global integrator of container logistics, according to the CEO of its Ocean & Logistics division, Vincent Clerc.

Maersk will purchase LF Logistics from controlling shareholder Li & Fung and Singapore state-owned investment vehicle Temasek, which acquired 22% in 2019.

The $3.6bn, in cash, being paid by Maersk is more than double the company’s valuation at the time of the Temasek deal.

LF Logistics employs 10,000 people ...