By  on June 28, 2019

Singapore’s sovereign investment fund Temasek has bought a 21.7 percent stake worth $300 million in Li & Fung’s logistics business, LF Logistics.

The investment values LF Logistics at approximately $1.4 billion. Proceeds from the investment will be used to fund “future capital expenditures, repay existing bank facilities and accelerate business growth initiatives at LF Logistics,” the Hong Kong company said, adding that its proposed spin-off of the logistics arm will be postponed until further notice.

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