NOL to sell APL Logistics to Kintetsu World Express

Here the latest news on that deal:

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Reports from Japan say Neptune Orient Lines (NOL) is to sell APL Logistics for around JPY140bn ($1.2bn) to Kintetsu World Express.

Nikkei business daily reported that a deal between Kintetsu and NOL could be completed as early as Tuesday, Reuters reported.

At its full year results briefing last Friday NOL ceo Ng Yat Chung said that in terms of developments with APL Logistics there was “nothing material to announce at this time”.

NOL announced last August it was exploring a possible sale of APL Logistics.

Trading of NOL’s shares on the Singapore Exchange has been suspended.

Published inAsia, Containers, Port & Logistics

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