S.F. Holding will take a 51.5 percent stake in Kerry Logistics Network.

In conjunction with the partial offer, Kerry Logistics Network’s warehouse assets in Hong Kong and its business in Taiwan will be sold to a wholly owned subsidiary of Kerry Holdings Limited.

The offer is subject to the fulfilment of certain pre-conditions, but would create one of the biggest logistics groups in Asia.

“By tapping into different customer segments, S.F. Holding and Kerry Logistics Network will coexist as separate entities in Mainland China, Hong Kong and Macau. The partnership is expected to create significant synergies to boost both companies’ growth and leadership in the logistics sector with clear business focuses and complementary strengths to bring value to investors,” said Kerry Logistics.