CJ Korea Express pays up to expand China footprint

After losing out on the sale of Singapore’s APL Logistics earlier this year, Korea’s largest logistics company has won control of China’s Rokin.

CJ Korea Express CJ Korex, South Korea’s largest logistics company, has acquired China’s privately owned Rokin Logistics in a deal that could potentially double its revenues on the mainland.

Analysts say the transaction’s $565 million enterprise value makes for an expensive price tag in comparison to other MA deals from the Asian logistics sector.

Nevertheless, they still believe it makes a lot of sense for the Kospi 200-company given its ongoing strategy of diversifying away from South Korea's saturated logistics sector and into China, where booming online shopping is transforming the business of delivering goods.

Rokin’s largest shareholders have sold a 71.4%...

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