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Maersk buys Asian warehouse giant in $3.6 billion takeover ajot.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ajot.com Daily Mail and Mail on Sunday newspapers.
Maersk Buys Warehouse Giant LF Logistics for $3.6B themiddlemarket.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from themiddlemarket.com Daily Mail and Mail on Sunday newspapers.
A.P. Moller-Maersk A/S has agreed on the second-largest takeover in its history with the purchase of an Asian warehouse giant. Maersk, the world’s biggest container line, is to pay US$3.6 billion in enterprise value for Hong Kong-based LF Logistics (利豐物流), it said yesterday. The deal is second only to its US$4 billion takeover of Hamburg Sued in 2017. Maersk, which transports about one-fifth of the world’s containers at sea, is pursuing a new strategy to expand in land-based logistics where there is more potential for growth and profit margins are higher. Earlier this year, Maersk, based in Copenhagen, also announced plans to ....