GEODIS signs deal to buy Keppel Logistics
WAREHOUSING & LOGISTICS

GEODIS signs deal to buy Keppel Logistics

GEODIS, a global third-party logistics (3PL) and freight transportation services provider based in Levallois-Perret, France, said this week that it has reached a deal to purchase Keppel Logistics, a Singapore-based contract logistics services provider.

The purchase price was reported to be $80 million. According to GEODIS executives, the transaction is pending regulatory assessment and approval, which should be completed by the end of the second quarter. In the interim, GEODIS and Keppel will operate as separate businesses and do business as usual, according to the statement.

According to GEODIS, Keppel has almost 500 personnel and a strong presence throughout Southeast Asia, ranking in the top five contract logistics service providers in Singapore. It has warehouse space in Singapore, Malaysia, and Australia totalling over 200,000 square feet. Its service portfolio includes end-to-end B2B and B2C logistics solutions, ranging from warehousing to last-mile delivery, as well as strong expertise in e-commerce omnichannel service offerings, all of which are powered by the company's fast-growing UrbanFox platform.

The acquisition will considerably expand GEODIS' contract logistics presence and e-commerce fulfillment services in Singapore and Southeast Asia, according to the business.

It said that it is a significant step forward in the company's strategic roadmap for the Asia Pacific region, where it employs 3,700 people across 76 locations. The acquisition will further strengthen GEODIS' position as a premier logistics service provider, adding to previous investments in contract logistics locations in India, South Korea, and Australia, according to the company.

In the same release, Thomas Pang, CEO of Keppel Telecommunications & Transportation, told the media that Keppel Logistics has been offering bespoke integrated logistics in Singapore for more than 50 years.

Image Source

Also read: Geodis takes 3 mn sq ft warehouse facility from LOGOS on lease

GEODIS, a global third-party logistics (3PL) and freight transportation services provider based in Levallois-Perret, France, said this week that it has reached a deal to purchase Keppel Logistics, a Singapore-based contract logistics services provider. The purchase price was reported to be $80 million. According to GEODIS executives, the transaction is pending regulatory assessment and approval, which should be completed by the end of the second quarter. In the interim, GEODIS and Keppel will operate as separate businesses and do business as usual, according to the statement. According to GEODIS, Keppel has almost 500 personnel and a strong presence throughout Southeast Asia, ranking in the top five contract logistics service providers in Singapore. It has warehouse space in Singapore, Malaysia, and Australia totalling over 200,000 square feet. Its service portfolio includes end-to-end B2B and B2C logistics solutions, ranging from warehousing to last-mile delivery, as well as strong expertise in e-commerce omnichannel service offerings, all of which are powered by the company's fast-growing UrbanFox platform. The acquisition will considerably expand GEODIS' contract logistics presence and e-commerce fulfillment services in Singapore and Southeast Asia, according to the business. It said that it is a significant step forward in the company's strategic roadmap for the Asia Pacific region, where it employs 3,700 people across 76 locations. The acquisition will further strengthen GEODIS' position as a premier logistics service provider, adding to previous investments in contract logistics locations in India, South Korea, and Australia, according to the company. In the same release, Thomas Pang, CEO of Keppel Telecommunications & Transportation, told the media that Keppel Logistics has been offering bespoke integrated logistics in Singapore for more than 50 years. Image Source Also read: Geodis takes 3 mn sq ft warehouse facility from LOGOS on lease

Next Story
Infrastructure Transport

Railway stations in Prayagraj undergo major passenger facility expansion

The Railway Board Chairman and CEO, Satish Kumar, conducted an extensive inspection on Saturday alongside the General Manager of Northern Railway and the officiating General Manager of North Central Railway. Their visit focused on various ongoing projects at multiple stations across the Northern and North Central Railway zones, with particular attention to enhancing facilities for the upcoming Maha Kumbh. During the inspection, Chairman Kumar reviewed the construction of a vital bridge over the River Ganga, specifically between Jhunsi and Prayagraj Rambagh. This bridge is expected to significa..

Next Story
Infrastructure Transport

Madurai-Thoothukudi broad gauge line works under review

The construction of the Madurai-Thoothukudi broad gauge line, which includes the crucial Melmarudur-Tiruparankundram project, is currently under careful review. This update comes from Southern Railway's assistant public information officer, J Kumarasubramanian, following an RTI inquiry made by a concerned citizen, Dayanand Krishnan. The new broad gauge line is projected to cover a total length of 143.5 km, with the initial 18 km stretch between Milavittan and Melmarudur completed and sanctioned by the Commission of Railway Safety on March 8, 2022. While substantial progress has been made on t..

Next Story
Real Estate

DLF expects Rs 26,000 cr from super luxury project in Gurugram

Realty giant DLF is projecting impressive revenue of Rs 26,000 crore from its newly unveiled super-luxury project, The Dahlias, situated in the heart of Gurugram. Ashok Tyagi, the Managing Director of DLF, shared these insights during a recent conference call with market analysts, highlighting the project's potential amidst rising demand for high-end residential properties. The Dahlias project spans an expansive 17 acres and is set to feature approximately 420 ultra-luxury apartments, each boasting a minimum size of 10,300 square feet. This ambitious development has already garnered significan..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000