SG Holdings concludes mandatory offer; now owns over 51% stake in Expo
Thursday, 19 June 2014 00:00
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SG Holdings, Japan completed its investment in Expolanka Holdings by acquiring a controlling stake in the group amounting to more than 51% of issued share capital with the close of the mandatory offer period ending on 17 June.
In May this year, SG Holdings entered into an agreement with the top five major shareholders of Expolanka Holdings PLC to buy a 30% stake of the company at Rs. 10.70 per share. SG Holdings, the holding company for the Sagawa Group, is a leading logistics company in Japan with a presence in the Asian region. SG Holdings Representative Director Nobuaki Kondo said: “By unifying Expolanka’s freight forwarding global network with SGH Group’s operation bases in Japan, East Asia and ASEAN, our international transportation services will further broaden. We have complete faith in the current management team including Hanif Yusoof as CEO who plans to continue at the current position, and our Group intends to entrust the business operation of the company to this management team.”
Expolanka Holdings and SGH group have considerable expertise in apparel freight forwarding. Both groups will unify their collective strength to provide excellent services to the specialized requirements of the apparel industry. Expolanka Holdings PLC Group CEO/Director Hanif Yusoof said: “This strategic move will help us move to the next level in the international arena. We will be able to leverage on the fresh network strength to offer even better services to our customer base.”
SG Holdings currently owns 24 locally-incorporated subsidiaries in 10 countries outside Japan, including China, Vietnam, and Singapore. The Group has identified strengthening their overseas operation in the area of global freight forwarding as one of the core pillars.
Freight and logistics is a core business of Expolanka Holdings which has over the last three decades established itself as a premier provider of freight forwarding and supply chain management solutions in Sri Lanka and the Indian subcontinent. With a cluster of companies focusing on multi-modal freight and logistics solutions, Expolanka has a global footprint spanning four continents and 18 countries.
