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    Pakistan: SECP to unveil Takaful Technology in 2022

    Pakistan: SECP to unveil Takaful Technology in 2022

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    Pakistan: SECP to unveil Takaful Technology in 2022

    Pakistan: SECP to unveil Takaful Technology in 2022

    Indonesia Witnesses Big USD 3.25 Billion Sukuk Sale

    Indonesia Witnesses Big USD 3.25 Billion Sukuk Sale

    Al Salam Bank Q1 net profit rises a strong 7% to USD17.3 million

    Al Salam Bank Q1 net profit rises a strong 7% to USD17.3 million

    Saudi banks big on new digital future; fintech transactions to outdo the USD 33 billion thresholds by 2023

    Saudi banks big on new digital future; fintech transactions to outdo the USD 33 billion thresholds by 2023

    OPay obtains approval of Egypt's CBE to issue prepaid cards

    OPay obtains approval of Egypt’s CBE to issue prepaid cards

    Reserve Bank of Australia left its cash rate at the most significant low of 0.1% on Tuesday

    Reserve Bank of Australia left its cash rate at the most significant low of 0.1% on Tuesday

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    Cross River Bank gets USD3 Billion+ valuation and a crypto-first strategy

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    Digital voice-based banking to become the new reality in 2022?

    Led by Apax Digital, ClearBank raises £175m to accelerate global expansion

    Led by Apax Digital, ClearBank raises £175m to accelerate global expansion

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    Pakistan's 1st fintech M&A deal: ZoodPay acquires Tez Financial Services

    Pakistan’s 1st fintech M&A deal: ZoodPay acquires Tez Financial Services

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    Abu Dhabi-based Borouge sets offer price for IPO at USD0.66 per share at a valuation of USD20 billion

    Egypt to receive USD41.5 billion of investment in hydrogen projects through 2030

    Egypt to receive USD41.5 billion of investment in hydrogen projects through 2030

    New AI startup by Co-founders of DeepMind and LinkedIn raises USD 225 million

    New AI startup by Co-founders of DeepMind and LinkedIn raises USD 225 million

    In new move in 2022, IMF raises weighting of dollar, yuan in Special Drawing Rights basket

    In new move in 2022, IMF raises weighting of dollar, yuan in Special Drawing Rights basket

    Vodafone shares up after USD 4.4 billion UAE stake buy

    Vodafone shares up after USD 4.4 billion UAE stake buy

    Ather Energy raises USD128 million in series-E funding

    Ather Energy raises USD128 million in series-E funding

    Malaysia may cut palm oil export tax by 50 percent amid global supply crisis

    Malaysia may cut palm oil export tax by 50 percent amid global supply crisis

    UK’s Morrisons to buy McColl’s ahead of Asda owners

    UK’s Morrisons wins race to buy McColl’s ahead of Asda owners

  • Markets
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    Pakistan: SECP to unveil Takaful Technology in 2022

    Pakistan: SECP to unveil Takaful Technology in 2022

    Egypt to receive USD41.5 billion of investment in hydrogen projects through 2030

    Egypt to receive USD41.5 billion of investment in hydrogen projects through 2030

    Panama to develop largest advanced biorefinery to make lower-carbon aviation fuel by 2026

    Panama to develop largest advanced biorefinery to make lower-carbon aviation fuel by 2026

    Brazil mills cancel new sugar export contracts, shift output to ethanol

    Brazil mills cancel new sugar export contracts, shift output to ethanol

    World’s No.2 producer of wheat, India, bans wheat exports in new move

    World’s No.2 producer of wheat, India, bans wheat exports in new move

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    Australian stocks fall lower amidst worldwide sell-off; ASX 200 witnesses AUD 50 billion incineration

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    Volkswagen AG augments electric vehicle investment in Spain to EUR 10 billion

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    Germany changes stance: Could back new and immediate EU ban on Russian oil

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    Russia attacks Ukraine grain network in new bid to cut competition

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    Egypt’s Communication Ministry launches new Ashbal Misr Digital Initiative for 2022

    Egypt’s Communication Ministry launches new Ashbal Misr Digital Initiative for 2022

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    In 2022, Abu Dhabi real estate records a new boom with an influx of international investors

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    Stellantis sees India as profitable auto market amid challenges in China, Russia in 2022

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    New EdTech startup STEMuli raises USD3.25M to transform learning with Educational Metaverse

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    Modern Indian architecture creating heat waves in 21st century

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    Vodafone shares up after USD 4.4 billion UAE stake buy

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    Ather Energy raises USD128 million in series-E funding

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    Leaked: Spain to Reveal Draft Bill for Menstrual Leaves to the Cabinet in May 2022

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    For 2022, BT and Warner Bros Discovery jointly create new pay-TV sport business

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    Egypt’s Communication Ministry launches new Ashbal Misr Digital Initiative for 2022

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SF Holding to Acquire Majority Stake in Kerry Logistics

The deal will help boost supply chain services of the Chinese express giant with better reach in Asia

The Global Economics by The Global Economics
February 10, 2021
in Transportation, Trending
Reading Time: 1 min read
0
SF Holding to Acquire Majority Stake in Kerry Logistics

SF Holding to Acquire Majority Stake in Kerry Logistics

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Express Firm SF Holding is set to acquire a majority stake in Robert Kuok’s Kerry Logistics to expand its global supply chain reach. 

The deal is valued at HK$17.6 billion ($2.3 billion) where SF Holding will take hold of 51.8% stake in Kerry Logistics. Both the companies will also collaborate in Greater China to align their businesses. 

In a statement, the chairman of SF Holdings said to believe in forming alliances beneficial for the company’s competitiveness in the future. Both SF and Kerry Logistics had been in talks for three years and the recent competitive environment and international situation accelerated negotiations, he added. 

Kerry Logistics chairman, Kuok Khoon Hua finds the deal to have “a lot of strength and synergy” and is looking forward to taking advantage of expanding in mainland China. After the deal, Kerry Logistics’s holding in the logistics firm will be slashed to 20% from 40%. 

Kerry Logistics will sell its Taiwan business for NT$4.5 billion and some of its warehouse assets for HK$13.5 billion to its parent company, Kerry Properties.

Soon after the trading resumed, shares in SF Holding saw a rise by 10% limit in Shenzhen, whereas Kerry Logistics jumped 10.5% in Hong Kong with the parent company reaching 19%, its biggest intraday advance since May 2009. 

Tags: Kerry LogisticsKerry Logistics TaiwanKuok Khoon HuaSF Holding
The Global Economics

The Global Economics

The Global Economics Limited is a UK based financial publication and a bi-annual business magazine giving thoughful insights into the financial sectors on various industries across the world. Our highlight is the prestigious country specific Annual Global Economics awards program where the best performers in various financial sectors are identified worldwide and honoured.

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The Global Economics Limited is a UK based financial publication and a quarterly business magazine giving thoughtful insights into the financial sectors on various industries across the world. Our highlight is the prestigious country specific Annual Global Economics awards program where the best performers in various financial sectors are identified worldwide and honoured.

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