A.P. M°ller - Mµrsk A/S (CPSE:MAERSK B) acquiored 100% of the shares in LF Logistics Holdings Limited from Li & Fung Limited, and Dahlia Investments Pte. Ltd.
August 30, 2022
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A.P. M°ller - Mµrsk A/S (CPSE:MAERSK B) entered into an agreement to acquire 100% of the shares in LF Logistics Holdings Limited from Li & Fung Limited, and Dahlia Investments Pte. Ltd. for $3.6 billion on December 22, 2021. The consideration will be satisfied in cash. The Enterprise Value of the transaction is $3.6 billion including post-IFRS 16 lease liabilities, reflecting a pre-synergy EV/EBITDA multiple of 14.4x based on estimated EBITDA for full-year 2021 for the ICL business. In addition, an earn-out with a total value of up to $160 million related to future financial performance has been agreed as part of the transaction. LF Logistics Holdings Limited had a revenue of $1300 million, and EBITDA of $235 million in year 2020. The transaction is Subject to regulatory approvals, and is expected to close in third quarter of 2022. As of August 31, 2022, All regulatory approvals have now been obtained. and the acquisition was closed on August 31, 2022.
Allen & Overy LLP acted as legal advisor to A.P. M°ller - Mµrsk A/S (CPSE:MAERSK B). Morgan Stanley Capital Services LLC acted as financial advisor to Li & Fung Limited in the transaction. JPMorgan Chase & Co. and BofA Securities, Inc. acted as financial advisors to A.P. M°ller - Mµrsk A/S. Goldman Sachs acted as financial advisor to Li & Fung Limited.
A.P. M°ller - Mµrsk A/S (CPSE:MAERSK B) completed the acquisition of 100% of the shares in LF Logistics Holdings Limited from Li & Fung Limited, and Dahlia Investments Pte. Ltd. on August 31, 2022.
A.P. Møller - Mærsk A/S is the world's leading maritime transport company. The group's activity is organized around two sectors:
- maritime freight transport : at the end of 2023, operated a fleet of over 707 vessels (container vessels, tugs, supply vessels, gas carriers, and other specialized transporters). The group also offers port and logistical services;
- other: primarily activities related to shipyard construction, factory management (plastic and rubber products), and business holdings.
Net sales are distributed geographically as follows: Denmark (1.7%), United States (22.4%), China and Hong Kong (5.5%), Germany (3.3%), the United Kingdom (3.6%), Netherlands (3 .1%), Brazil (2.8%), Mexico (2.7%), India (2.7%), Spain (2.6%), Australia (2.5%), Singapore (1.9%) %), Costa Rica (0.7%) and others (44.5%).
A.P. M°ller - Mµrsk A/S (CPSE: MAERSK B) acquiored 100% of the shares in LF Logistics Holdings Limited from Li & Fung Limited, and Dahlia Investments Pte. Ltd.