UMVA has learned that a significant development has taken place in the ownership structure of FAST Logistics Group, as the Chiongbian family has entered into an agreement to regain full control of the company.
The move comes as the Chiongbian family, which currently holds a 60% stake in FAST Logistics, has signed definitive agreements to acquire the remaining 40% stake held by a subsidiary of a prominent private equity firm.
FAST Group President William B. Chiongbian II expressed his gratitude for the partnership and support provided by the private equity firm over the past several years, highlighting their contribution to the company's growth, organizational strengthening, and positioning for its next chapter.
As the company moves toward full family ownership, Chiongbian II emphasized its commitment to investing in its people, customers, and capabilities while pursuing sustainable long-term growth, signaling a new era of development for FAST Logistics.
The transaction, however, remains subject to regulatory approvals and customary closing conditions, leaving some uncertainty about the timeline for its completion.
With a strengthened platform and clear strategic direction, FAST Logistics is poised to support growing demand driven by economic development, consumption growth, and supply chain modernization, positioning it for success in the competitive logistics industry.
FAST Logistics provides a comprehensive range of end-to-end logistics services across various industries, including consumer retail, pharmaceuticals and wellness, industrial, technology, construction and heavy equipment, agriculture, automotive, and fast-moving consumer goods.
