Global Logistic Properties, which manages warehouse space for Alibaba and Amazon, has been sold.
The company has an enormous portfolio of warehouse space, measuring over 50 million square metres globally.
E-commerce giants Amazon and Alibaba are amongst its largest clients, although it actually serves more than 4,000 customers around the world.
Now, Global Logistic Properties has been the subject of a buy-out, valued at nearly 12 billion U.S. dollars.
The company is one of the world's largest real estate fund managers, with assets under management of 39 billion U.S. dollars.
The consortium purchasing Global Logistic Properties is called Nesta Investment Holdings Ltd, and is formed of a number of international investors, including Chinese backers Bank of China and Hillhouse Capital.
Dr. Seek Ngee Huat, Chairman of GLP's Board, Chairman of the Special Committee, and Independent Director, said: "The Special Committee, with guidance from our financial adviser J.P. Morgan and legal adviser Allen & Gledhill, conducted an in-depth and independent review in order to achieve the optimal result for all shareholders.
After an extensive evaluation of all final proposals received, the Special Committee decided on the proposed Scheme, which we believe is compelling and value-enhancing for all shareholders. We are pleased to announce this Scheme for our shareholders' consideration."
Global Logistic Properties is now expected to be privatized.
(Source: China Plus)
A single purchase
