Kuehne + Nagel is set to expand its presence in Asia with the purchase of freight forwarder Apex International Corporation – described as the largest acquisition in the Swiss company’s history.
The two parties said the purchase price would remain undisclosed for the time being, although a Bloomberg report values the deal at $1.5bn.
Apex was founded in China in 2001 and has expanded across Asia, making it an increasingly attractive takeover …
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Source: The Loadstar