China's SF Holding to take over Kuok's Kerry Logistics for US$2.3b

Kuok, who is Malaysia’s richest person, controls Kerry Logistics through his family holding company Kerry Group and its Hong Kong-listed real estate arm Kerry Properties Ltd.

HONG KONG: SF Holding Co., one of the largest Chinese package-delivery services, is seeking to acquire control of tycoon Robert Kuok’s Kerry Logistics Network Ltd. in a HK$17.6 billion ($2.3 billion) deal.

The Chinese courier plans to buy a 51.8% stake in Hong Kong-listed Kerry Logistics at HK18.8 per share, according to a joint statement to the Hong Kong stock exchange on Wednesday. Bloomberg News reported last week that SF Holding was exploring a potential investment in the company.