Deals

SF Holding to Take Over Kerry Logistics for $2.3 Billion

SF plans to buy 51.8% stake in Kerry Logistics at HK$18.8 each
Kerry Logistics mulls special dividend after warehouses sale

A Kerry Logistics Network Ltd. truck travels past the Kerry Cargo Center in Hong Kong, China.
Photographer: Billy H.C. Kwok/Bloomberg

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By Manuel Baigorri, Vinicy Chan, and Cathy Chan

February 9, 2021 at 5:26 PM UTC

Updated on

February 10, 2021 at 6:24 AM UTC

This article is for subscribers only.

SF Holding Co., one of the largest Chinese package-delivery services, is seeking to acquire control of tycoon Robert Kuok’s Kerry Logistics Network Ltd. in a HK$17.6 billion ($2.3 billion) deal for its global expansion.

The Chinese courier plans to buy a 51.8% stake in Hong Kong-listed Kerry Logistics at HK$18.8 per share, according to a joint statement to the Hong Kong stock exchange on Wednesday. Bloomberg News reported last week that SF Holding was exploring a potential investment in the company.