SINGAPORE (Feb 5): Keppel Telecommunications & Transportation’s (Keppel T&T) is increasing its stake in subsidiary, Urban Fox, from 59.6% to 85.0%.

This comes after wholly-owned subsidiary Keppel Logistics acquired about 143,664 shares in Courex for a consideration of $7.5 million.

UrbanFox was founded in 2009 as Courex, a B2C last-mile fulfilment startup. Following the acquisition of Courex by Keppel Logistics, UrbanFox was unveiled on Oct 24, 2017 with additional omni-channel logistics and channel management capabilities serving both B2B and B2C customers.

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