Parent of APL Logistics, Neptune Orient Lines (NOL), said it was buying the 51% stake in APLL – Zhiqin for $5.8m from Legend Holdings and Beijing Wilway Information Technology making it a wholly owned subsidiary.
The APLL – Zhiqin Group has a net asset value of $10.7m at the end of the second quarter of the year. The transaction is expected to close early next year and will be funded from internal resources.
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