Main­land- HK lo­gis­tics merger

Global Times - - Biz Overview -

The Chi­nese main­land’s lead­ing in­tra- city lo­gis­tics plat­form 58 Home an­nounced re­cently that one of its busi­ness units, 58 Suyun, had merged with Hong Kong lo­gis­tics start- up GOGOVAN, mak­ing it a lead­ing in­tra- city lo­gis­tics plat­form in Asia.

As a re­sult of the deal, 58 Home will hold a ma­jor­ity stake in the new com­pany, which will use 58 Suyun as its Chi­nese brand and GOGOVAN as its English brand, the Bei­jing Daily re­ported Wed­nes­day.

The com­pa­nies will forge an in­tra- city lo­gis­tics and freight on­line plat­form worth more than $ 1 bil­lion, the Fi­nan­cial Times re­ported.

At present, 58 Suyun op­er­ates in about 100 main­land cities. GOGOVAN serves eight cities in the main­land, Hong Kong, Tai­wan, and South­east Asia.

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