Container shipping giant Maersk is acquiring Hong Kong-based LF Logistics. They have recently signed an agreement worth 360 crore dollars.
According to the agreement, Maersk will pay the full cost of the acquisition process in cash. Through this, the company will get ownership of hundreds of LF logistics warehouses in different parts of Asia.
The acquisition will help Maersk expand its business beyond its core shipping activities. The acquisition process is expected to be completed in 2022.
