MOSCOW (Pakistan Point News / Sputnik - 22nd December, 2021) Danish container logistic company A.P. Moller - Maersk announced on Wednesday that it had inked a deal on acquisition of LF Logistics, a Hong Kong logistic firm with transport capabilities across the Asia-Pacific region.
"(The company has) reached an agreement to acquire LF Logistics, a Hong Kong-based contract logistics company, with premium capabilities within omnichannel fulfilment services, e-commerce, and inland transport in the Asia-Pacific region," Maersk said in a press statement.
According to the statement, the value of the transaction is $3.6 billion.
"The acquisition of LF Logistics is an important and truly strategic milestone on our journey to become... a global logistics company that provide digitally enabled end-to-end logistics solutions... With the acquisition of LF Logistics, we add critical capabilities in Asia Pacific to support our customers' long term growth," Maersk CEO Soren Skou said in a statement.
The transaction is expected to be completed in 2022 after receiving regulatory approvals,�and Maersk and LF Logistics will remain two separate companies, the statement said.
A.P. Moller - Maersk, founded in 1904 in the Danish town of Svendborg, is the world's largest container carrier that operates in over 135 countries worldwide with the staff of 95,000 employees.
LF Logistics is a Hong Kong-based firm established in 1999, which specializes on contract logistics in the Asia-Pacific with B2B and B2C distribution solutions. The company's staff accounts for 10,000 employees.
