Kuehne+Nagel Buys Apex Logistics in $1.5 Billion Deal
- Swiss firm announced transaction without price details
- MBK revived sale of Apex Logistics majority stake last year
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Kuehne + Nagel International AG has agreed to acquire Apex International Corp. in a deal that values the freight forwarder at about $1.5 billion, according to people familiar with the matter.
The Swiss logistics firm announced the transaction on Monday without providing any financial terms. Kuehne + Nagel is going to buy a majority stake in Apex Logistics from North Asia-focused private equity firm MBK Partners, which invested in the company in 2015. The management of Apex Logistics will retain a minority stake after the transaction, according to the statement.