Danish shipping firm AP Mller-Maersk has agreed to acquire 100 percent of the shares in LF Logistics Holdings Limited in an all-cash deal.
The enterprise value of the deal is 3.6 billion dollars, including 16 post-International Financial Reporting Standards lease liabilities.
An earn-out with a total value of up to 160 million dollars related to future financial performance is also part of the deal.
LF Logistics is a private Hong Kong-based company owned by Li and Fung and Temasek Holdings that focuses on providing contract logistics solutions to customers in the Asia-Pacific. Maersk will also enter a strategic partnership with Li and Fung to develop logistic solutions.
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