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Singapore's NOL mulls US$750 million APL Logistics sale or IPO
SINGAPORE's Neptune Orient Lines (NOL) says it is exploring the sale or public listing of APL Logistics after it was reported the company hoped to sell it for US$750 million.
Reuters said NOL has hired banks to assist it this autumn in the process of finding a buyer for APL Logistics.
APL Logistics president Beat Simon would only say the company was in the middle of a "strategic review".
NOL said it said it "continually evaluates all available options. These include considerations of a sale or initial public offering its logistics business as a separate, stand-alone unit from NOL".
NOL owns the APL container line, and is in turn owned by the Singapore government's investment company Temasek.
Earlier this month, NOL said APL Logistics had second-quarter revenue of US$379 million, up seven per cent year on year.
Sixty-three per cent of APL Logistics' revenue comes from the Americas, 28 per cent from Asia and the Middle East and nine per cent from Europe.
Reuters said NOL has hired banks to assist it this autumn in the process of finding a buyer for APL Logistics.
APL Logistics president Beat Simon would only say the company was in the middle of a "strategic review".
NOL said it said it "continually evaluates all available options. These include considerations of a sale or initial public offering its logistics business as a separate, stand-alone unit from NOL".
NOL owns the APL container line, and is in turn owned by the Singapore government's investment company Temasek.
Earlier this month, NOL said APL Logistics had second-quarter revenue of US$379 million, up seven per cent year on year.
Sixty-three per cent of APL Logistics' revenue comes from the Americas, 28 per cent from Asia and the Middle East and nine per cent from Europe.
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