Li & Fung in $564 million deal to privatise IDS

Li & Fung aims to consolidate its affiliate logistics company Integrated Distribution Services to further strengthen its China position and its distribution capabilities.

Li Fung will take private its affiliate Integrated Distribution Services Group IDS via a scheme of arrangement for an outlay of up to HK$4.4 billion $564 million.

Li Fung intends to privatise IDS through a scheme of arrangement. Consequently, it is offering minority shareholders of IDS a choice of cash or Li Fung shares for all the outstanding shares of IDS. For every IDS share held, the shareholders can choose to receive either HK$21 cash...

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