SF Express announced on Wednesday that it has acquired a 51.8% stake in Hong Kong-listed rival Kerry Logistics for HK$17.6 billion ($2.3 billion). Kerry Logistics will remain listed after the deal, adding a third listed entity for SF Group, in addition to Shenzhen-listed SF Holdings and Hong Kong-listed SF Real Estate Investment Trust. SF said in a Wednesday statement that the company will use Kerry Logistics as the primary platform for overseas expansion. [SF Express press release, in Chinese]
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