HONG KONG, Feb 9 (Reuters) - Chinese logistics giant S.F. Holding Co has offered to buy a 51.8 percent stake in Hong Kong-listed Kerry Logistics Networks Ltd, it said in an exchange filing on Tuesday.
The offer, at HK$18.8 ($2.43) per share and valuing the total transaction at HK$17.6 billion, will be conducted by S.F. Holding unit Flourish Harmony Holdings Co Ltd, it said in the filing.
Kerry Logistics Networks will retain its listing on the Hong Kong stock exchange upon completion of the deal, S.F. Holding said, although the public float would be reduced to 15 percent of the company from 25 percent.
Reuters previously reported that S.F. Holding was in talks to take Kerry private at a premium to Kerry’s trading price. ($1 = 7.7516 Hong Kong dollars) (Reporting by Meg Shen in Hong Kong; Roxanne Liu in Beijing; Editing by Kirsten Donovan)