Maersk makes big bet on Asia, buys out Li & Fung unit in $3.6b deal

Maersk makes big bet on Asia, buys out Li & Fung unit in $3.6b deal

Source: Upadek Matmy/Unsplash

Container shipping giant Maersk on Wednesday agreed to buy Hong Kong-based LF Logistics for $3.6 billion in an all-cash deal that will add hundreds of warehouses in Asia and help it expand beyond its core ocean freight business.