DLA Piper has represented Kerry Logistics Network Limited (the Company), on the acquisition of a majority stake in Apex Maritime and its affiliated companies (APEX) for approximately US$ 88 million. APEX operates mainly a freight forwarding business across the US and is based in South San Francisco. According to Datamyne reports, APEX is the top three NVOCC (Non-vessel Operating Common Carrier) ranked by Asia to US import volumes in 2015.
 
The acquisition is part of Kerry Logistics’ long-term international freight forwarding strategy to expand its network and coverage worldwide. The extended coverage will help support its trade lanes between Asia and the US, further strengthening the global international freight forwarding network of the Company.
 
Paul Chen, Head of Corporate Asia said: "This is the first major acquisition for Kerry Logistics in the U.S., and represents a continuation of its strategy to grow its business organically and through acquisition. The DLA Piper M&A team worked against a tight deadline, within complex structuring issues to get this deal done."
 
Heng Loong Cheong, Kerry Logistics client relationship partner added: "This is a great achievement for our key client Kerry Logistics. The acquisition substantially strengthens its US presence, as part of their overall global M&A strategy. We are pleased to have worked closely with our client on this transaction, in addition to having successfully closed a number of other M&A transactions most recently in the Middle East and Singapore."

The DLA Piper team was led by Head of Corporate for Asia, Paul Chen, and partner Heng Loong Cheong (Corporate, Hong Kong and Singapore), and included Registered Foreign Lawyers Farrah Saleem and Jamil McClintock (both Corpoate, Hong Kong). The DLA Piper M&A team was also supported by the firm's US Employment, US Import/Export, CFIUS, HSR, IP and Real Estate teams.