Kintetsu World Express acquires APL Logistics

Singapore’s Neptune Orient Lines(NOL) group has sold its APL Logisticsdivision to Japanese logistics providerKintetsu World Express (KWE) in one ofthe largest logistics acquisitions in recenthistory.


Kintetsu World Express acquires APL Logistics


Singapore’s Neptune Orient Lines(NOL) group has sold its APL Logisticsdivision to Japanese logistics providerKintetsu World Express (KWE) in one ofthe largest logistics acquisitions in recenthistory. The sale will earn $1.2 billion forthe state-owned Singapore shipping line,which is in urgent need of recapitalisingits balance sheet, while the acquisitionby KWE will transform it into a mid-tolargesized contract logistics provider witha far greater geographic spread.