Muslim World$type=three$h=250$c=3$author=hide$comment=hide$rm=hide$date=hide$snippet=hide$show=home





Saudi Arabia$type=two$count=2$h=250$space=1$icon=1$m=0$sn=0$rm=0$show=/search/label/Muslim%20World




Popular Posts All time_$type=three$meta=0$snip=0$rm=0$count=9$show=/search/label/Popular

Popular Posts Last 7 days_$type=three$meta=0$snip=0$rm=0$count=9$show=/search/label/Popular

Popular Posts Last 30 days_$type=three$meta=0$snip=0$rm=0$count=9$show=/search/label/Popular

Popular Posts Last year_$type=three$meta=0$snip=0$rm=0$count=9$show=/search/label/Popular

Chinese group bids $11.6 bn for warehouse firm GLP


SINGAPORE  -  A Chinese consortium on Friday offered more than $11 billion for Singapore's Global Logistic Properties Ltd, which provides warehouses for the likes of Amazon China and WalMart, as e-commerce drives demand for logistics space.

In filings with the Singapore Exchange, both firms said they were "pleased to announce the proposed acquisition" after GLP selected Nesta Investment Holdings as its preferred bidder.

Under the deal, Nesta would buy GLP shares at Sg$3.38 apiece, valuing the company at around Sg$16 billion ($11.6 billion).

Data compiled by Bloomberg showed the deal will be the biggest private equity buyout of an Asian company by enterprise value.

It would be the second-largest logistics deal this year after China Investment Corp agreed to acquire Blackstone Group LP's European logistics business for 12.25 billion euros ($13.8 billion) in June, Bloomberg said.

GLP -- of which Singapore sovereign wealth fund GIC is the biggest shareholder with an almost 37 percent stake -- owns and manages a portfolio of modern logistics facilities in China, Japan, the United States and Brazil. It counts Amazon China, WalMart, Adidas, FedEx and DHL among its clients.

It is also one of the world's largest real estate fund managers with assets under management of around $39 billion, filings with the Singapore stock exchange said.

The growth of websites such as Amazon and Alibaba means customers can buy anything from mobile phones to sports equipment online and send them straight to loved ones, driving growth in e-commerce.

This has also fuelled demand for state-of-the-art warehouse space worldwide to facilitate such shipments, analysts said.

US-based research firm eMarketer has said online sales are expected to reach $1.9 trillion this year and top $4.0 trillion by 2020.

Nesta is comprised of five Chinese companies, including private equity investment firm HOPU Logistics Investment Management and Bank of China Group Investment.

The deal is expected to be completed on or before April 14 next year, subject to shareholders' approval.

GIC has assured Nesta it will vote in favour of the buyout. GLP shares closed nearly 22 percent higher Friday after the deal was announced.



Ads,5,Afghanistan,79,Africa,28,Americas,5,Animals,37,Argentina,1,Asia,277,Australia,11,Austria,5,Bahrain,3,Bangladesh,18,Barcelona,1,Belgium,3,Brunei,1,Business,1322,Canada,5,Catalan,80,China,129,Cuba,3,Czech Republic,3,DR Congo,1,Egypt,22,Ethiopia,1,Europe,261,Fitness,14,France,28,Germany,41,Haiti,1,Headlines,11,Health,171,Hillary Clinton,199,Hong Kong,2,Hungary,1,Iceland,1,India,111,Indonesia,11,International,75,Iran,84,Iraq,78,Ireland,2,Islamophobia,19,Israel,12,Italy,4,Japan,41,Jordan,1,Kenya,7,Kosovo,1,Kuwait,3,Lebanon,2,Libya,2,Lifestyle,303,Lithuania,1,Malawi,1,Malaysia,16,Malta,1,Maxico,4,Middle East,138,Muslim World,626,Myanmar,35,Nawaz Sharif,5,Nepal,3,Netherlands,2,New Zealand,10,Niger,1,Nigeria,2,Nobel Prize,81,North Korea,58,Norway,1,Opinion,26,Pakistan,1061,Palestine,38,Philippine,17,Pics,66,Poland,3,Popular,1,Qatar,93,Rohingya,118,Russia,49,Rwanda,1,Saudi Arabia,85,Science,144,Serbia,2,Showbiz,351,Somalia,4,South Africa,2,South Korea,8,Spain,62,Sports,1328,Sudan,1,Sweden,1,Switzerland,2,Syria,113,Taiwan,3,Technology,455,Thailand,12,Today IN History,24,Top News,1033,Tunisia,1,Turkey,81,U.S.,344,UAE,22,UK,59,Ukrain,2,Venezuela,4,Videos,76,Vietnam,2,World,4893,Yemen,21,Zimbabwe,2,
Muslim Global: Chinese group bids $11.6 bn for warehouse firm GLP
Chinese group bids $11.6 bn for warehouse firm GLP
Muslim Global
Loaded All Posts Not found any posts VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS CONTENT IS PREMIUM Please share to unlock Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy