Thursday, August 21, 2014

Top Story

NOL plans to sell APL Logistics for $750M

Singapore’s Neptune Orient Lines reportedly wants to sell its APL Logistics, its global freight management and logistics division, for more than $750 million, according to information from inside sources.

NOL plans to launch the process this fall, and has hired banks to help find a buyer for APL Logistics, the sources said, asking not to be named.

A representative for NOL had no immediate comment.

According 2013 financials the logistics business had earnings before interest, taxes depreciation and amortization of $74.5 million.

NOL hopes to sell it at 10 to 12 times that amount in a potential sale, or between $750 million and $900 million, the anonymous sources said. However, they added, buyers are more likely to value the business at closer to $600 million.

NOL posted a net loss of $76 million on $8.8 billion of total revenue in 2013.

For more of the Reuters story: www.reuters.com


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