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Nikkei Markets

Singapore's Global Logistic Properties To Sell Four Japan Properties For $472 Mln

By Singapore Newsroom
Nikkei Markets
SINGAPORE (Aug 29) -- Warehouse operator Global Logistic Properties said Tuesday it has entered into an agreement to sell four wholly-owned properties in Japan for $472 million.

"GLP expects to receive net sale proceeds of $266 million upon the scheduled completion on Sep. 1, 2017," it said in exchange filing.

GLP owns and manages a global portfolio of 56 million square meters, and has operations in China, Japan, the U.S. and Brazil.

A consortium of Chinese investors has offered to buy GLP for S$15.8 billion. The offer has the backing of Singapore's sovereign wealth fund GIC, which is GLP's largest shareholder with a 36.8% holding.
- By Singapore Newsroom; sgeditorial@nikkeinewsrise.com; +65 6331 6250
- Edited by Lopamudra Bhattacharya
- Send Feedback to feedback@nikkeinewsrise.com
- Copyright (c) 2017 Nikkei NewsRise Asia Pte Ltd.

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