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SF Holding: Talks with KERRY LOG NET Last for 3-4 Yrs; KERRY LOG NET Brand To Used outside CN, HK, MO if Deal Nailed
SF Holding Chairman Wang Wei, in appearance at the press conference, said the recent proposed transaction with KERRY LOG NET (00636.HK) represented a deep capital cooperation, inst...
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SF Holding: Talks with KERRY LOG NET Last for 3-4 Yrs; KERRY LOG NET Brand To Used outside CN, HK, MO if Deal Nailed
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2021/02/10 12:14
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SF Holding Chairman Wang Wei, in appearance at the press conference, said the recent proposed transaction with KERRY LOG NET (00636.HK) represented a deep capital cooperation, instead of an acquisition as the market deemed. Afterwards, the board of directors will adopt "co-management" model to run the business. Revealing the negotiation between the two logistics companies last for 3-4 years, Wang yet said the transaction proposal is still subject to the support of minority shareholders.

KERRY LOG NET Group Managing Director Ma Wing Kai William, on another note, said the planned deal with SF Holding will mold both firms into the biggest Asian logistics groups. KERRY LOG NET will become the international unit of SF Holding, facilitating overseas expansion of the latter outside China, Hong Kong and Macau. SF Holding will continue to use KERRY LOG NET's brand and maintain its listing status, implying SF Holding's overseas brand will die down.
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