Maersk inks deal to acquire 100% shares in LF Logistics for $3.6 bn

27 Dec 2021 CW Team

Maersk has inked an all-cash deal to achieve 100% shares in LF Logistics Holdings Limited (LF Logistics) for $3.6 billion.

LF Logistics is a well-set up and strongly placed Asia-Pacific-based omni channel fulfillment contract logistics firm, as per an official statement from Maersk.

The purchase will boost Maersk’s capabilities as an integrated container logistics firm, providing global end-to-end supply chain solutions to its customers.

LF Logistics is a private, Hong Kong-based company held by Li & Fung (78.3%) and Temasek Holdings (21.7%) that concentrates on rendering contract logistics solutions to customers in Asia-Pacific organised via two key business units - In-Country Logistics (ICL) and Global Freight Management (GFM).

The purchase of LF Logistics is an essential and truly strategic milestone on our journey to become the global integrator of container logistics - a global logistics firm that renders digitally-enabled end-to-end logistics solutions based on control of critical assets, Soren Skou, CEO, Maersk told the media.

With the purchase of LF Logistics, they comprise essential capabilities in Asia Pacific to help their customer's long-term development in the Asia Pacific as well as capabilities and technology they can scale in their contract logistics business globally.

In addition to the deal to procure LF Logistics, Maersk has additionally inked a strategic partnership with Li & Fung to build logistic solutions. The parent firm of Li & Fung is likely to retain and continue to develop the carved-out GFM business following the completion of the deal.

The contract value reflects a pre-synergy EV/EBITDA multiple of 14.4x based on estimated EBITDA for full-year 2021 for the ICL business. Additionally, an earn-out of up to $160 million associated with future financial performance has been agreed as part of the deal.

Established in 1999, LF Logistics runs a network of 223 warehouses with a capacity of 2.7 million sq m with about 10,000 people across 14 nations in Asia-Pacific.

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Also read: Mahindra Logistics leased 1.4 mn sq ft warehouses at LOGOS’

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Maersk has inked an all-cash deal to achieve 100% shares in LF Logistics Holdings Limited (LF Logistics) for $3.6 billion. LF Logistics is a well-set up and strongly placed Asia-Pacific-based omni channel fulfillment contract logistics firm, as per an official statement from Maersk. The purchase will boost Maersk’s capabilities as an integrated container logistics firm, providing global end-to-end supply chain solutions to its customers. LF Logistics is a private, Hong Kong-based company held by Li & Fung (78.3%) and Temasek Holdings (21.7%) that concentrates on rendering contract logistics solutions to customers in Asia-Pacific organised via two key business units - In-Country Logistics (ICL) and Global Freight Management (GFM). The purchase of LF Logistics is an essential and truly strategic milestone on our journey to become the global integrator of container logistics - a global logistics firm that renders digitally-enabled end-to-end logistics solutions based on control of critical assets, Soren Skou, CEO, Maersk told the media. With the purchase of LF Logistics, they comprise essential capabilities in Asia Pacific to help their customer's long-term development in the Asia Pacific as well as capabilities and technology they can scale in their contract logistics business globally. In addition to the deal to procure LF Logistics, Maersk has additionally inked a strategic partnership with Li & Fung to build logistic solutions. The parent firm of Li & Fung is likely to retain and continue to develop the carved-out GFM business following the completion of the deal. The contract value reflects a pre-synergy EV/EBITDA multiple of 14.4x based on estimated EBITDA for full-year 2021 for the ICL business. Additionally, an earn-out of up to $160 million associated with future financial performance has been agreed as part of the deal. Established in 1999, LF Logistics runs a network of 223 warehouses with a capacity of 2.7 million sq m with about 10,000 people across 14 nations in Asia-Pacific. Image Source Also read: Mahindra Logistics leased 1.4 mn sq ft warehouses at LOGOS’

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