{"id":74816,"date":"2023-11-13T00:00:00","date_gmt":"2023-11-13T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2023\/11\/13\/dp-world-in-talks-to-acquire-hong-kong-based-logistics-firm\/"},"modified":"2023-11-13T00:00:00","modified_gmt":"2023-11-13T00:00:00","slug":"dp-world-in-talks-to-acquire-hong-kong-based-logistics-firm","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2023\/11\/13\/dp-world-in-talks-to-acquire-hong-kong-based-logistics-firm\/","title":{"rendered":"DP World in talks to acquire Hong Kong-based logistics firm"},"content":{"rendered":"

Emirati logistics giant <\/strong>DP World is in talks to acquire Hong Kong-based <\/strong>Cargo Services Far East<\/a><\/strong>, Bloomberg<\/a> reports, citing sources in the know. DP World is working with an undisclosed financial adviser on the potential transaction, which could value the Hong-Kong-based firm at an estimated USD 800 mn, the sources said. Negotiations are still ongoing and other bidders may emerge, they added. <\/p>\n

About the company: <\/strong>Cargo Services Far East \u2014 owned by Hong Kong tycoon John Lau \u2014 operates in cold chain logistics, ocean and freight shipping, and fashion distribution, according to Bloomberg. The company has offices in 35 cities in China, Singapore, Australia, South Africa, and the US.<\/p>\n

What\u2019s on the table?<\/strong> Earlier this year, interest from potential buyers left Lau \u2014 who also owns a majority stake in Hong Kong-listed CN Logistics International<\/a> and a significant minority stake in logistics firm EV Cargo \u2014 considering his options for a sale of his logistics assets, Bloomberg<\/a> reported earlier. An agreement could involve a single buyer for all of the assets, or multiple transactions involving several different companies, Bloomberg said, citing sources with knowledge of the matter.<\/p>\n

DP World has been expanding its presence in East Asia: <\/strong>In November 2022, DP World signed an agreement to help develop a trade zone in Shanghai, China, according to Zaywa<\/a>. The company also has a joint venture<\/a> with Goodman Group, which owns a logistics center in Kwai Chung Container Terminals in Hong Kong.<\/p>\n","protected":false},"excerpt":{"rendered":"

A transaction could value the Hong Kong-based company at USD 800 mn<\/p>\n","protected":false},"author":1,"featured_media":74817,"comment_status":"","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[941],"tags":[248,17,137,129],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-74816","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch-2","tag-china","tag-enterprise-logistics","tag-ma-watch","tag-uae","wpautop","entry"],"acf":{"mongo_id":"dfa5b9c0-e7e0-493c-a8bb-2104b685fd58","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/11\/509.jpg","photo_position":"above","homepage_title":"","full_issue_title":"DP World in talks to acquire Hong Kong-based logistics firm","related_issue":[74811],"teaser":"A transaction could value the Hong Kong-based company at USD 800 mn","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/11\/.1fdedb50-bbf2-4157-8e46-6125d913bb7e.mp3"},"yoast_head":"\nDP World in talks to acquire Hong Kong-based logistics firm - Logistics<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/logistics\/2023\/11\/13\/dp-world-in-talks-to-acquire-hong-kong-based-logistics-firm\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DP World in talks to acquire Hong Kong-based logistics firm\" \/>\n<meta property=\"og:description\" content=\"A transaction could value the Hong Kong-based company at USD 800 mn\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/logistics\/2023\/11\/13\/dp-world-in-talks-to-acquire-hong-kong-based-logistics-firm\/\" \/>\n<meta property=\"og:site_name\" content=\"Logistics\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-13T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/509.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/logistics\/2023\/11\/13\/dp-world-in-talks-to-acquire-hong-kong-based-logistics-firm\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/logistics\/2023\/11\/13\/dp-world-in-talks-to-acquire-hong-kong-based-logistics-firm\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/logistics\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"DP World in talks to acquire Hong Kong-based logistics firm\",\"datePublished\":\"2023-11-13T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/logistics\/2023\/11\/13\/dp-world-in-talks-to-acquire-hong-kong-based-logistics-firm\/\"},\"wordCount\":244,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/logistics\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/logistics\/2023\/11\/13\/dp-world-in-talks-to-acquire-hong-kong-based-logistics-firm\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/509.jpg?fit=%2C&ssl=1\",\"keywords\":[\"China\",\"Enterprise Logistics\",\"M&A WATCH\",\"UAE\"],\"articleSection\":[\"M&A Watch\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/logistics\/2023\/11\/13\/dp-world-in-talks-to-acquire-hong-kong-based-logistics-firm\/\",\"url\":\"https:\/\/enterpriseam.com\/logistics\/2023\/11\/13\/dp-world-in-talks-to-acquire-hong-kong-based-logistics-firm\/\",\"name\":\"DP World in talks to acquire Hong Kong-based logistics firm - 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