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Temasek takes 21.7% stake in Li & Fung's logistics business for US$300m

Published Fri, Jun 28, 2019 · 09:50 PM
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Singapore

TEMASEK Holdings has invested US$300 million in a 21.7 per cent stake in Hong Kong-based global supply chain giant Li & Fung's logistics business.

The injection from Singapore's state investment company will value the business, LF Logistics, at approximately US$1.4 billion.

Li & Fung said that as a result of Temasek's investment, it will postpone a previous proposed spinoff initial public offering for LF Logistics. It will remain a controlling shareholder of LF Logistics with a 78…

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