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Li & Fung forms strategic partnership with Maersk; disposes Temasek jointly-owned logistics business

Samantha Chiew
Samantha Chiew12/22/2021 6:44 PM GMT+08  • 2 min read
Li & Fung forms strategic partnership with Maersk; disposes Temasek jointly-owned logistics business
Li & Fung forms strategic partnership with Maersk; disposes Temasek jointly-owned logistics business
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Li & Fung is forming a long-term strategic partnership with AP Moller - Maersk (Maersk), an integrated logistics company working to connect and simplify its customers’ supply chains.

In addition to this strategic partnership, the Li & Fung, together with Temasek, the Singapore sovereign wealth fund, has entered into a sale and purchase agreement with Maersk, whereby Maersk agreed to acquire their jointly-owned logistics business, LF Logistics Holdings and its various entities valuing the business at US$3.6 billion on an enterprise value basis. Subject to regulatory approvals, the transaction is expected to complete in 2022.

As at Dec 22, Li & Fung holds 78.3% and Temasek holds 21.7% of the issued shares of LF Logistics. LF Logistics is a leading logistics services provider, offering both contract logistics services across Asia and freight management services globally.

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