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Kuehne+Nagel Weighs Options For Apex Logistics Unit
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SupplyChainBrain
Kuehne+Nagel International AG is considering strategic options for its Apex Logistics unit, an Asia-focused freight forwarder, people with knowledge of the matter said.
Kuehne+Nagel has been discussing options with potential advisers, including the sale of a roughly 20% stake in the business, according to the people.
The Swiss freight transportation group agreed to acquire the remaining holding in Apex last year at an enterprise value of more than $4 billion.
A representative for Kuehne+Nagel said Apex remains a strong strategic fit for the company and has supported its growth ambitions in Asia and globally.
Founded in 2001, Apex offers air and sea freight transportation, with warehousing and distribution as auxiliary services.