24.02.2022
Artikel Nummer: 39750
Topocean under a new flag
Kerry Logistics is taking over Topocean Consolidation Service in Los Angeles, which is owned by Robert Chin Yang Wang and Andy Hsien Cheng Wang. Topocean specialises in international freight forwarding and logistics services.
Kerry has agreed to acquire initially 70% of the issued and outstanding capital stock, to be followed by a further three 10% transactions. The total consideration for the tranche 1 target shares is close to USD 90 million.
90% of the tranche 1 consideration will be paid to the sellers in cash. The total value of all of the target shares shall not exceed USD 240 million. Both sellers will remain members of the company’s senior management. (sh)