The world’s biggest container line is acquiring Hong Kong-based LF Logistics in an all-cash deal, it said on Wednesday. The transaction is second only to its US$4 billion takeover of Hamburg Sued in 2017. Maersk will boost annual revenue in its logistics and services business by about US$1 billion with the acquisition. Maersk said it’s paying a multiple of 14.4, based on enterprise value to earnings before interest, tax, depreciation and amortization. Maersk is set to book 2021 net income of US$17 billion, or six times the result in 2020, according to analyst estimates.

Source: The Edge Markets December 22, 2021 21:14 UTC