Li & Fung Limited announced it has agreed to form a long-term strategic partnership with A.P. Moller - Maersk (Maersk), an integrated logistics company working to connect and simplify its customers' supply chains. The partnership will enable both companies to utilize their respective resources and global networks to create a comprehensive range of end-to-end global supply chain services. In addition to this partnership, Li & Fung has entered into a transaction for Maersk to acquire its logistics business, LF Logistics Holdings Limited (LF Logistics) and its various entities, valuing the business at USD 3.6 billion on an enterprise value basis. Subject to regulatory approvals, the transaction is expected to close in 2022. LF Logistics is jointly owned with Temasek, the Singapore sovereign wealth fund (Li & Fung holds 78.3% and Temasek holds 21.7% of the company), and is a leading logistics services provider, offering both contract logistics services across Asia and freight management services globally. The company has consistently registered double-digit growth over the past decade and has a stellar track record in e-logistics and omni-channel fulfillment. The strategic partnership follows the recent formation of LFX, focusing on digital ventures, investments and supply chain finance with GLP, its Singapore-based partner, as Li & Fung continues its journey of helping customers navigate the new digital economy.