China's S.F. offers to buy 51.8% stake in Kerry Logistics

KLN Logistics

09/02/2021 15:05

HONG KONG, Feb 9 (Reuters) - Chinese logistics giant S.F.
Holding Co  002352.SZ  has offered to buy a 51.8 percent stake
in Hong Kong-listed Kerry Logistics Networks Ltd  0636.HK , it
said in an exchange filing on Tuesday.
    The offer, at HK$18.8 ($2.43) per share and valuing the
total transaction at HK$17.6 billion, will be conducted by S.F.
Holding unit Flourish Harmony Holdings Co Ltd, it said in the
filing. 
    Kerry Logistics Networks will retain its listing on the Hong
Kong stock exchange upon completion of the deal, S.F. Holding
said, although the public float would be reduced to 15 percent
of the company from 25 percent.
    Reuters previously reported that S.F. Holding was in talks
to take Kerry private at a premium to Kerry's trading price.
 urn:newsml:reuters.com:*:nL1N2KB03J

($1 = 7.7516 Hong Kong dollars)

 (Reporting by Meg Shen in Hong Kong; Roxanne Liu in Beijing;
Editing by Kirsten Donovan)
 ((meg.shen@thomsonreuters.com; 852-39525805;))