- December 22, 2021
- Posted by: Stratford Team
- Category: Business
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AP Moeller-Maersk AS said Wednesday it has agreed to buy LF Logistics Holdings Ltd. in an all-cash deal.
The Danish shipping company said it would acquire 100% of the private, Asia-Pacific-based logistics company for an enterprise value of $3.6 billion.
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An earn-out of up to $160 million linked to future financial performance has been agreed upon as part of the deal, Maersk said.
The Wall Street Journal reported Tuesday that Maersk was nearing a deal to buy LF Logistics for about $3 billion.
SHIPPING OPTIONS DRY UP AS BUSINESSES TRY TO REBUILD FROM PANDEMIC
The deal is expected to close in 2022 and unlock substantial synergies, Maersk said Wednesday.
Ticker Security Last Change Change % AMKBY A.P. MØLLER-MÆRSK A/S 17.23 +0.18 +1.03%
On Monday, French conglomerate Bollore SE said it had received a $6.4 billion offer from Geneva-based Mediterranean Shipping Co….
