MBK Partners Revives $1 Billion Sale of China’s Apex Logistics
(Bloomberg) -- MBK Partners is reviving its plan for a potential sale of Chinese freight forwarder Apex Logistics International Inc. which is riding a surge in e-commerce during the Covid-19 pandemic, people with knowledge of the matter said.
The private equity firm is working with a financial adviser and could raise more than $1 billion from a transaction, according to the people, who asked not to be identified because the matter is private. The sale could attract potential suitors such as other logistics companies as well as investment funds, the people said.
Last year, MBK had weighed options including a sale of the business, Bloomberg News reported at the time. The firm decided to put its plans on hold due to trade tensions between China and the U.S., one of the people said.
Deliberations are at an early stage and MBK could decide not to sell the business, the people said. A representative for MBK declined to comment.
Read More: Asia Trounces Europe, U.S. With Surprise Record Deal Spree
Apex Logistics, headquartered in Shanghai, is one of China's largest air freight forwarders, according to MBK's website. It has offices in more than 70 countries and offers logistics services including transportation, supply chain solutions and warehousing and distribution, Apex's website shows. Transportation and logistics companies have seen a surge in demand amid a boom in e-commerce, one of the beneficiaries of coronavirus-driven lockdowns.
©2020 Bloomberg L.P.
With assistance from Bloomberg
-
'Never Seen This Level Of Negativity': Sandeep Tandon Says The Next Rally May Be Closer Than You Think
Veteran investor Sandeep Tandon says foreign selling is easing, large-caps are due a comeback and mid-caps are crowded, while he turns positive on gold, power and pharma this Diwali.
-
Indians Stay With Family, Not In Hotels | The Reason Why
India still lacks enough clean, reliable and affordable hotels for budget-conscious travellers.
-
The Economic Imperative: Analysing The Material Driving Force Behind India-Canada Strategic Reset
This economic complementarity is further reinforced by deep institutional investment ties and talent mobility, which form the bedrock of the bilateral framework.
-
Medicine Pricing: Where Must Profit Stop?
India must confront excessive margins, hidden incentives and regulatory gaps that threaten the integrity of medicine.
-
Why Amazon And Flipkart Are Struggling To Beat Meesho In India's Smaller Cities
With 274 million users and lowest-cost logistics, Meesho is defending its value commerce crown against giants like Amazon and Flipkart.
-
High US Salaries, No Green Card Certainty: The Financial Calculation Facing Indian H-1B Families
The suspension of PERM processing at eight technology employers does not cancel existing H-1B visas. What it does is force a question many Indian families have been avoiding: is the US salary worth tying your career and family plans to one employer?
-
Swiggy vs Eternal: Food Delivery's Two Rivals Are No Longer In The Same Race
Eternal is building a private AI assistant, dark.ai. Swiggy is still working out how to make Instamart pay, with an operating loss of Rs 895 crore in the July-September quarter while Blinkit stayed profitable.
-
Where You Live Shapes How You Get To Work | The Reason Why
Two-wheelers are the most popular way to get to work in India, accounting for nearly 43% of workplace commutes.
-
Unhedged Position: Can India See An Indonesia-Style Time Correction?
The Nifty is trading below levels it first clocked in 2024. Is there, then, as I have suggested in the headline, potential that the current time correction drags on painfully for the next three-five, even ten years?
-
Navigating Friction And Energy Realities: An Analysis Of Marco Rubio's October Visit To India
Occurring at a critical juncture marked by stalled trade negotiations and escalating geopolitical pressures over global energy supplies, the visit offers a profound window into modern US-India relations.
