DHL and UPS among bidders for South Korea’s Logen Logistics
Deutsche Post DHL Group and UPS are reportedly among the companies which have submitted preliminary offers for South Korean package delivery firm Logen Logistics. According to a report published by The Korea Herald today (18 March), Affinity Equity Partners, CVC Capital Partners and STIC Investment were also among the bidders.
Logen is currently wholly owned by Hong Kong-based Baring Private Equity Asia, which bought the delivery specialist from Mirae Asset Private Equity in 2013. Logen is reported to be the fourth largest courier services company in South Korea – behind CJ Korea Express, Hyundai Logistics and Hanjin Transportation.
