CJ Korea Express says considering acquisition of APL Logistics
By: Reuters | Oct 16 2014 at 01:40 AM | Logistics
CJ Korea Express Corp, South Korea’s largest logistics firm, said on Thursday it is considering a possible acquisition of Singapore’s APL Logistics, among various options.
The Korean logistics firm said in a regulatory filing it is considering various angles in relation to APL Logistics including merger and acquisition (M&A) or a strategic partnership, but nothing has yet been decided.
Singapore’s Neptune Orient Lines Ltd is hoping to sell its APL Logistics division for more than $750 million, people familiar with the matter previously told Reuters.
Shares in CJ Korea Express were up 4.9 percent as of 0523 GMT, beating a 0.4 percent drop in the wider market.