Kuehne+Nagel International is said to be assessing options for the future of Apex Logistics, the Asia-focused air and ocean freight forwarder that joined the Swiss group in recent years. Options under consideration include the sale of a stake of about 20% in the company and a listing of Apex on the Hong Kong stock exchange, according to people familiar with the matter cited by Bloomberg. The same sources said Kuehne+Nagel has already begun talks with potential financial advisers and has approached some sovereign wealth and infrastructure funds in an effort to identify a new external investor. The discussions are still ongoing, the sources said, and the group has not taken any final decision on a possible transaction involving Apex.
Founded in 2001, Apex provides air and ocean freight services, with warehousing and distribution as ancillary activities. The company handles up to 4,000 charters a year. Kuehne+Nagel acquired a majority stake in Apex in 2021, in a deal that valued the company at about $1.5 billion (around €1.3 billion), as Bloomberg News reported at the time, citing people familiar with the matter. Last year, the group agreed to acquire the remaining stake, at an enterprise value of more than $4 billion (around €3.5 billion). A Kuehne+Nagel spokesperson said Apex remains a sound strategic choice for the group, in line with its growth objectives in Asia and globally.
