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Global Logistic Properties to be sold for record $16 bil to Hillhouse, Hopu group

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Global Logistic Properties to be sold for record $16 bil to Hillhouse, Hopu group

Bloomberg Published on Fri, Jul 14, 2017 / 2:20 PM GMT+8

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SINGAPORE (July 14): Global Logistic Properties, the Singapore warehouse operator, will be sold for about $16 billion to a management-backed Chinese consortium that features private equity firms Hillhouse Capital Management and Hopu Investment Management.

The offer values the shares at $3.38 each, GLP said in a statement to Singapore’s stock exchange. That’s 25% more than GLP’s last-traded price on Wednesday before the shares were suspended.

GLP’s largest shareholder, Singapore sovereign wealth fund GIC Pte which owns about 37% of the company, has given an irrevocable undertaking to vote in favour of the offer, the statement said.

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Global Logistic Properties to be sold for record $16 bil to Hillhouse, Hopu group

M&A

Global Logistic Properties to be sold for record $16 bil to Hillhouse, Hopu group

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Global Logistic Properties to be sold for record $16 bil to Hillhouse, Hopu group

M&A

Global Logistic Properties to be sold for record $16 bil to Hillhouse, Hopu group

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