Davis Polk advised Li & Fung Ltd. in connection with an investment by Temasek Holdings (Private) Limited in Li & Fung’s logistics business, LF Logistics.
Under the terms of the definitive agreement, Temasek’s wholly-owned subsidiary will subscribe for a 21.7% interest in LF Logistics for $300 million in cash, subject to net debt adjustment. The closing of the transaction is subject to regulatory approval and other customary closing conditions.
Li & Fung is listed on the Hong Kong Stock Exchange and is a consumer goods design, development, sourcing and logistics company based in Hong Kong. LF Logistics is a pan-Asian logistics service provider. Temasek is an investment company wholly owned by the Government of Singapore.
The Davis Polk corporate team includes former partner Paul Chow (Picture), partner Miranda So, counsel Sam Kelso, registered foreign lawyer Samuel Kang and associate Tracy Wu.
Law Firms: Davis Polk & Wardwell;
Clients: Li & Fung;