Kuala Lumpur, February 23rd, 2023 – Broadgate Advisers (“Broadgate”) has successfully advised the shareholders of China-based Tianjin Globe Express Services Logistics Co., Ltd (“TGES” or the “Company”) on the sale of 100% stake in the Company to SEHK-listed global logistics group, Kerry Logistics Network Limited (“Kerry Logistics”).
Established in 2011, TGES is an integrated logistics company engaged mainly in the storage and transportation of chemicals and other dangerous goods for a wide range of blue-chip customers in the petrochemical, industrial, bio-pharmaceutical and automotive industries. The acquisition will strengthen Kerry Logistics’ national chemical transportation network as well as its cross-border chemical logistics capabilities.
On this occasion, Broadgate’s Head of M&A Advisory, Habib Aoun, said: “We are happy to have supported the shareholder of TGES on this strategic exit. The transaction is an important milestone in our plan to further expand transaction coverage and execution across Asia”. Nik Ibrahim, Co-Head of Asia M&A at Broadgate, added: “This transaction further demonstrates our cross-border M&A advisory capabilities and the strong synergies across Broadgate’s global offices.”
Broadgate Advisers acted as the exclusive financial advisor, Dentons as the legal counsel, and Grant Thornton as the tax advisor, to the shareholders of TGES.
ABOUT KERRY LOGISTICS
Kerry Logistics is an Asia-based global 3PL offering a broad range of supply chain solutions from integrated logistics, international freight forwarding (air, ocean, road, rail and multimodal), e-commerce and express to industrial project logistics and infrastructure investment, with a global presence in 59 countries and territories in China, India, Southeast Asia, CIS, Middle East, LATAM, among others.
Kerry Logistics generated a revenue of over HK$81 billion in 2021 and is the largest international logistics company listed on the Hong Kong Stock Exchange.
ABOUT TIANJIN GLOBE EXPRESS SERVICES CO., LTDTianjin Globe Express Services Co. Ltd is an integrated logistics company, based in Tianjin, China. The company is engaged in chemicals and other dangerous goods storage, transportation and related value-added services, servicing a wide range of blue-chip customers in the petrochemicals, paint coatings, bio-pharmaceutical and automotive industries
ABOUT BROADGATE ADVISERS
Broadgate Advisers is a subsidiary of Malta based BA Capital Holding PLC, a group holding active in M&A Advisory, Venture Capital and Wealth Management with offices in Europe, Asia and the Middle East.