Media
\nOutReach<\/a>\u00a0– 10 February 2021 –\u00a0<\/b>S.F. Holding Co., Ltd. (‘S.F. Holding’; Stock Code 002352.SZ) and Kerry
\nLogistics Network Limited (‘Kerry Logistics Network’ or ‘the Company’; Stock Code 0636.HK) are pleased to announce the proposed
\nstrategic investment and cooperation between the two companies. <\/p>\n
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Subject
\nto satisfaction of certain pre-conditions, the Offeror, being an indirect wholly-owned
\nsubsidiary of S.F. Holding, will make a Partial Offer to obtain 931,209,117 ordinary shares of Kerry
\nLogistics Network, representing approximately a 51.5% stake (on a fully-diluted
\nbasis) of the
\nCompany at a cash
\noffer price of HK$18.80 per share (the ‘Partial Offer’). In conjunction with the Partial
\nOffer, Kerry Logistics Network’s warehouse
\nassets in Hong Kong will be disposed of
\nto a wholly-owned subsidiary of Kerry Holdings Limited to unlock its shareholder
\nvalue, and for
\nthe Company to operate under an asset-lighter model comparable to
\ninternational industry peers. Subject to the completion of the
\nwarehouses sale, substantially
\nall of the proceeds from the warehouses sale will be distributed to all those shareholders
\nof the Company who are shareholders of record on the record date as a special
\ndividend of HK$7.28 per share. The total amount of offer price plus
\nspecial dividend to be received by a shareholder of the Company for every share
\nthat the shareholder tenders and is accepted under the Partial Offer would be
\nHK$26.08, comprising the offer price of HK$18.80 per share and the special dividend
\nof HK$7.28 per share. <\/p>\n
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To facilitate the transaction, the Company’s business
\nin Taiwan, including the interest in
\nKerry TJ Logistics Company Limited, which is listed on the Taiwan Stock Exchange (‘Kerry
\nTJ Logistics’; Stock Code 2608.TW),
\nwill also be sold to a wholly-owned subsidiary of Kerry Holdings Limited in compliance with
\nthe laws and regulations in Taiwan. The proceeds from the
\nTaiwan business sale will be retained by the
\nCompany for its ongoing growth and developments. <\/p>\n
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The Partial
\nOffer is
\nsubject to fulfilment of certain pre-conditions including, amongst others, the
\ndisposal of the Hong Kong warehouse assets, and the disposal of the Taiwan
\nbusiness becoming unconditional under their respective sale agreements, and
\nupon independent shareholders’ approvals being obtained at a Special General
\nMeeting and the relevant
\nregulatory approvals in various jurisdictions in
\nconnection with the Partial
\nOffer being obtained.<\/p>\n
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The
\ncooperation will bring together the core competencies of S.F.
\nHolding and Kerry Logistics Network across multiple verticals to create a leading
\nAsia-based global logistics platform to meet ever-changing demands. <\/p>\n
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Under
\nthe strategic cooperation, Kerry Logistics Network will be positioned as S.F.
\nHolding’s platform for international
\nbusiness. S.F.
\nHolding and the Company will also collaborate with each other in Greater China
\nto better align their respective businesses. By tapping into different customer segments, S.F.
\nHolding and Kerry Logistics Network will coexist as separate entities in
\nMainland China, Hong Kong and Macau. The Company will continue
\nto grow its logistics businesses, both
\nin terms of scale and coverage. The partnership is expected to create significant
\nsynergies to boost both companies’ growth and leadership in the logistics
\nsector with clear business focuses and complementary strengths to bring value
\nto investors. <\/p>\n
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Subsequent to the completion of the proposed
\ntransaction, Kerry Logistics Network’s listed status on the Hong Kong Stock
\nExchange will remain unchanged. The
\nKerry Group of companies will still hold a significant interest in the Company,
\nwhich will continue to operate under the “Kerry” names with a clear
\nbrand identity and be managed by its current core leadership team across all
\nmarkets.<\/p>\n
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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"HONG KONG
SAR\u00a0–\u00a0Media
OutReach\u00a0– 10 February 2021 –\u00a0S.F. Holding Co., Ltd. (‘S.F. Holding’; Stock Code 002352.SZ) and Kerry
Logistics Network Limited (‘Kerry Logistics Network’ or ‘the Company’; Stock Code 0636.HK) are pleased to announce the proposed
strategic investment and cooperation between the two companies.
\u00a0
Subject
to satisfaction of certain pre-conditions, …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[60],"tags":[],"_links":{"self":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/12175"}],"collection":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/comments?post=12175"}],"version-history":[{"count":0,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/12175\/revisions"}],"wp:attachment":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/media?parent=12175"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/categories?post=12175"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/tags?post=12175"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}