DLA Piper advises Kerry Logistics on USD240 million acquisition of Topocean Group
DLA Piper has advised US company KLN Investment LLC (an indirect wholly-owned subsidiary of Kerry Logistics Network Limited) on the USD240 million acquisition by tranches of Los Angeles-based Topocean Consolidation Service , Inc. and its subsidiaries. Topocean Consolidation Service is a provider of international freight forwarding and logistics services in the US.
DLA Piper’s Hong Kong-based Corporate partner Heng Loong Cheong commented: “We are immensely proud to join Kerry Logistics on the next stage of its development and ambitious growth plans, following our support in early 2016 on its first major acquisition in the US. This strategic transaction is a clear demonstration of our experience in the logistics industry as well as our capability to seamlessly provide a full-service offering to our clients on cross-border acquisitions, despite disruptions caused by the COVID-19 pandemic”.
The DLA Piper team was led by Heng Loong Cheong who was assisted by Corporate senior associate Samuel Mai and associates Tommy Lam and Benjamin Fung, all based in Hong Kong. The US Corporate team was led by San Diego-based partner Jeff Baglio and supported by of counsel Donald Ainscow. Singapore-based Litigation and Regulatory partner Nathan Bush and the anti-trust and the Committee for Foreign Investments in the United States team provided additional assistance.