KNI divests SembLog stake

Freight forwarder Kuehne & Nagel sells out of Singapore-listed Sembcorp Logistics.

Jackie Horne

October 25, 2004

The unwinding of a cross shareholder agreement between Kuehne & Nagel International (KNI) and Sembcorp Logistics resulted in the sale of a 5% stake in the latter yesterday (Monday). The deal follows an agreement to terminate a four-year arrangement originally designed to capitalise on a global outsourcing trend that never quite materialised as planned.

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