SINGAPORE - Danish shipping giant A.P. Moller-Maersk has announced the acquisition of a Hong Kong-based logistics company - a move that will transform it from a marine line into an integrated container logistics company in Asia.
The US$3.6 billion (S$5 billion) buyout of LF Logistics - Maersk's second-largest - will broaden its presence in Asia and give it more control over the region's supply chains, allowing it to better manage the movement of goods from their source to end consumers, said the company in a statement on Wednesday.
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