By Singapore Newsroom
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.
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