J&T Acquires Fengwang Express to Boost Its Market Share in China

By Editorial Team 16/05/2023
J&T Express global expansion
Summary

Indonesian logistics service provider J&T Express announced the acquisition of Fengwang Information, a subsidiary of S.F. Holding Co Ltd Fengwang Information operates Fengwang Express, and both parties have already signed a Share Transfer Agreement.

“J&T Express's subsidiary, J&T Express [Shenzhen] Supply Chain Co Ltd, will acquire a 100 percent stake in Fengwang Holding's wholly-owned subsidiary, Shenzhen Fengwang Information Technology Co Ltd ["Fengwang Information"], for RMB 1.18 billion, or approximately Rp 2.5 trillion,” S.F. Holding management stated in a press release, citing PR Newswire, Saturday.

S.F. Holding stated that the resources of both companies are complementary, which should ensure a smooth transition of the transaction. Later, SF Holding plans to focus on developing its core businesses, including domestic mid-to-high-end express, international express, global supply chain services, and digital supply chain services. After the acquisition, Fengwang Express will continue to offer e-commerce express delivery products and services and meet the diverse needs of customers in the high-end express delivery market.

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