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GLP to delist from Singapore in a US$12b privatisation deal
WAREHOUSE provider Global Logistic Properties (GLP) plans to delist from the Singapore Exchange on January 22 as part of a record SGD16 billion (US$12 billion) privatisation deal.
The privatisation of the Singapore-based company was approved by GLP shareholders at the end of November in 2017.
Chinese private equity consortium Nesta Investment Holdings - which is backed by senior GLP executives - is paying SGD3.38 per share in cash to acquire the warehouse provider in what will be one of the largest private equity buyouts ever of an Asian company by enterprise value, reported American Shipper.
As Asia's biggest warehouse operator, GLP has a SGD41 billion portfolio of assets spread across China, Japan, Brazil and the United States. The e-commerce boom driven by online retailers has pushed up the value of its portfolio in recent years.
The privatisation of the Singapore-based company was approved by GLP shareholders at the end of November in 2017.
Chinese private equity consortium Nesta Investment Holdings - which is backed by senior GLP executives - is paying SGD3.38 per share in cash to acquire the warehouse provider in what will be one of the largest private equity buyouts ever of an Asian company by enterprise value, reported American Shipper.
As Asia's biggest warehouse operator, GLP has a SGD41 billion portfolio of assets spread across China, Japan, Brazil and the United States. The e-commerce boom driven by online retailers has pushed up the value of its portfolio in recent years.
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