Kirkland & Ellis and Freshfields Bruckhaus Deringer are advising a consortium led by logistics investor GLP Pte. Ltd. on a $928 million offer to take Hong Kong-listed supply chain giant Li & Fung Ltd. private.
As part of the deal, Singapore-based GLP has offered to buy all the outstanding shares not owned by the Fung family, which runs Li & Fung, at HK$1.25 (¢16), a 150% premium of the company’s closing price Friday. Hong Kong-based Li & Fung is one of the largest trading houses in Asia and longtime supplier of U.S. and U.K. companies and department stores. The company has been under pressure as global trading uncertainties persist.
