Trade topics
|
You are here :News Chinese firms win 11.6-bln-USD buyout bid for Singaporean logistics firm
By:Xinhua Net Update:2017-07-17
SINGAPORE, July 14 (Xinhua) -- Nesta Investment Holdings Limited compromising a group of Chinese firms has won a bid for acquisition of 16 billion Singaporean dollars (some 11.6 billion U.S. dollars) worth shares of Singapore's leading logistics facilities operator Global Logistics Properties (GLP) and privatize it, GLP said on Friday.
According to a joint statement released by GLP and Nesta Investment on Friday, the latter has proposed to acquire all the issued and paid-up ordinary shares of GLP (excluding treasury shares) for 3.38 Singapore dollars (2.46 US dollars) per share. Nesta Investment is jointly owned by a group of Chinese companies including HOPU, Hillhouse Capital, Bank of China Group Investment, Vanke and SMG, which is owned by GLP chief executive Ming Mei. The deal is expected to be completed on or before April 14 2018, said the statement. GLP owns and manages a global portfolio of 55 million sqm (592 million sq ft) of warehouses and other logistics facilities, with leading market positions in China, Japan, the United Statesand Brazil, said GLP's annual report for the financial year ended March 31 2017. The company is also one of the world's largest real estate fund managers, with assets under management of 39 billion U.S. dollars, it added. |