SF Holding to buy Kerry Logistics to expand reach beyond China

$2.26bn deal with Hong Kong company is major step into greater Asian region

SF Holding is keen on adding Kerry Logistics Network's wide global network with its presence in 59 countries and regions, particularly in Asia. © Reuters

KENJI KAWASE, Nikkei Asia chief business news correspondent

February 10, 2021 11:59 JST

Updated on February 10, 2021 19:32 JST

HONG KONG -- SF Holding said on Wednesday that it will acquire a controlling stake in Kerry Logistics Network in a deal valued at 17.55 billion Hong Kong dollars ($2.26 billion), marking a major advance for the Chinese courier company into the wider Asian region.

SF will purchase 51.8% of the Hong Kong-listed pan-Asian logistics service provider, the companies said in a statement to the Hong Kong Stock Exchange. Shenzhen-listed SF said it will pay for the acquisition through loan funding.