The French logistics group Geodis has signed a binding agreement with Singapore's Keppel Telecommunications & Transportation to buy the entire capital of its Keppel Logistics subsidiary, acquisition of the 80 million value with which the transalpine group intends to increase its presence in the segment of logistics contract and e-commerce services in Singapore and Southeast Asia. " Keppel Logistics-explained Marie-Christine Lombard, CEO of Geodis-is a consolidated regional actor, with a strong focus on innovation. Through this acquisition, which will combine the global leadership of Geodis with the solid local presence of Keppel Logistics, we trust that we can create great value for our customers, facilitating their growth, particularly in the market Asian of e-commerce ".

According to the forecasts, the acquisition, which is subject to approval by the antitrust authorities, is expected to be completed by the end of the second semester of this year. Geodis will pour 70 million into Keppel T&T at the completion of this phase, while another 10 million will be deposited on a captive account and available to Keppel T&T to achieve certain performance in 2022 and 2023.

Keppel Logistics has nearly 500 employees and over 200mila square meters of warehouses in Singapore, Malaysia and Australia. In the Asia and Pacific region, Geodis employs 3,700 people in 76 locations.