Singapore shipper Neptune Orient looks to sell logistics unit: Sources
Published on Aug 20, 2014 6:18 AM
NEW YORK (REUTERS) - Singapore's Neptune Orient Lines is looking to sell its APL Logistics division with the hope of fetching more than US$750 million (S$935 million), according to people familiar with the situation.
Shipping and logistics company Neptune is comprised of two major divisions - APL Logistics, a global freight management and logistics business, and a separate container shipping business named APL.
Neptune plans to launch a process in the fall to find a buyer for APL Logistics and has hired banks to assist with that effort, the sources said, asking not to be named.
A representative for Neptune had no immediate comment.
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