Linklaters advised the Kerry Group on the partial offer to be made by S.F. Holding for a 51.8% stake in Hong Kong SAR-listed Kerry Logistics. The offer, at HK$18.8 per share, is valued at approximately HK$17.6bn. Shareholders of Kerry Logistics will also receive a special dividend of HK$7.28 per share as part of the offer.
In conjunction with the transaction, Kerry Logistics’ warehouse assets in Hong Kong will be disposed of to a wholly owned subsidiary of the parent company, in order to operate under an asset-light model comparable to international industry peers.
The transaction is a strategic investment and cooperation between the two parties, with an expectation to boost both companies’ growth in the logistics sector to meet ever-changing demands in the market.
The Linklaters team was led by corporate partners Matthew Middleditch, Alex Bidlake and Christopher Yip, with support from managing associate Chloe Choy.
Partner and Chairman of Global Corporate Practice, Matthew Middleditch, commented:
“This landmark transaction brings together two leading players in the logistics sector. We are proud to have played our part in supporting Kerry Logistics, and the broader Kerry Group, on this strategic transaction as part of its development as a leading Asia-based global logistics platform. Our involvement in the transaction consolidates the firm’s long-standing experience in the corporate/M&A space in the region.”
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