S Korea's CJ Logistics nearing $1.1b sale of China unit to FountainVest

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South Korea’s CJ Logistics Corp. is nearing a deal to sell its Chinese unit CJ Rokin Logistics Supply Chain Co. to FountainVest Partners, according to people familiar with the matter.

Negotiations on the final terms for the Shanghai-based unit are advanced and an announcement could come as soon as in the next few days, the people said, asking not to be identified as the discussions are private. A deal could value Rokin at about $1.1 billion, the people said. FountainVest is considering bringing in co-investors to take minority stakes in the company, they said.

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