SF Holding explores investment in Kerry LogisticsBusiness | 5 Feb 2021 9:30 am
SF Holding Co., one of the largest Chinese package-delivery services, is exploring a potential investment in tycoon Robert Kuok Hock-Nien's listed logistics business, people with knowledge of the matter said, Bloomberg reports.
The Chinese courier is in talks to acquire a minority stake in Kerry Logistics Network Ltd., according to the people, who asked not to be identified because the information is private. Kerry Logistics shares have risen 38 percent in Hong Kong trading this year, giving the company a market value of about US$5.4 billion.
Kerry Logistics is also considering selling some assets to its parent company, the people said. Kuok controls the firm through his family holding company Kerry Group and its publicly-traded real estate arm Kerry Properties. Details of a potential transaction are still being discussed, and the structure of the deal could change, the people said.
Trading in Kerry Properties and Kerry Logistics was halted in Hong Kong on Friday, pending inside information announcement. SF Holding also suspended its trading in Shenzhen, pending an announcement.