SF Holding takes over Kerry Logistics Network

SF Holding and Kerry Logistics Network (KLN) announced a “strategic investment and cooperation” this week, according to which SF Holding takes control of KLN.

The deal for a controlling stake values the target at $2.3bn, excluding a special dividend that SF Holding will pay out. Our earlier coverage – titled “Enter the Chinese mammoth and goodbye Kerry Logistics” – can be found here.

The full statement, released today, can be found below (key bits highlighted in bold):

S.F. Holding Co., Ltd. (‘S.F. Holding’; ...