Temasek buys 9.95% stake in i-Logistics
Singapore government-controlled Temasek Holdings, parent company of global port operator PSA International and majority shareholder of Neptune Orient Lines, has acquired a 9.95 percent stake in i-Logistics Corp. from Japanese trading company Itochu Corp.
The transaction was conducted through Temasek’s wholly owned subsidiary Seletar Investments Pte Ltd. No financial details were disclosed.
i-Logistics’ operations include third-party logistics services, focusing on managing logistics for medicine and lifestyle consumer goods in Japan and overseas.
Following Temasek’s share purchase, Itochu Corp. is still the largest shareholder in i-Logistics with a 48.7 percent stake and “will continue to drive the company’s growth strategy,” said Temasek.