Maersk has reached an agreement on 22 December 2021 to acquire LF Logistics from
current owners Li & Fung (78.3%) and Temasek Holdings (21.7%) for a total
enterprise value of $3.6 Bn, with an additional earn-out of up to $160M from
future earnings.
The transaction will involve LF Logistics' In-Country Logistics (ICL) business
which has a projected revenue of $1Bn with an adjusted EBITDA of $250M in 2021,
implying a 14.4x EBITDA multiple on the purchase price. The ICL business
operates a network