BBG: CVC ups deal size to €2.3bn, may price IPO at mid-point
BLOOMBERG reports: CVC Capital Partners increased the size of its initial public offering by €500 million ($536 ...
BLOOMBERG reports:
ESR Cayman Ltd. has agreed to buy a portfolio of warehouse and logistics assets in Australia from Blackstone Group for about A$3.8 billion ($2.9 billion) in the country’s biggest real estate transaction in five years.
The Hong Kong-listed property manager partnered with GIC Pte. for a newly-formed vehicle in the acquisition of the assets, according to a press release on Sunday. The Singaporean sovereign wealth fund will contribute 80% of equity, while ESR will account for the rest. The portfolio consists of 45 assets held by Blackstone’s Milestone Logistics.
Blackstone started the sale process in January and received more than 10 first-round bids, according to the statement. ESR beat out four other shortlisted bidders, it said.
At $3 billion, the sale would mark the largest real estate transaction in Australia in five years, according to data compiled by Bloomberg. It underscores the growth in warehousing, which has become one of the most sought-after property classes, partly because of the surge in online shopping during the pandemic.
To read the full post, please click here (sub may be required).
Now you may also want to read this…
Etail by air – here to stay or on a short shelf life?
HMM sees opportunities in Hapag-Lloyd’s exit from THE Alliance
The rise and rise of China's ecommerce platforms
Legal battle heats up over 'unseaworthy' and 'reckless' MV Dali
Increasing scrutiny could stall rise of ecommerce platforms, as TikTok faces US ban
DSV chief reticent on Schenker: the focus on growing market share
Another strong month for US ports as container flows continue to rise
MSC redeploys 'Israel-linked' box ships away from Persian Gulf
Alex Lennane
email: [email protected]
mobile: +44 7879 334 389
During August 2023, please contact
Alex Whiteman
email: [email protected]
Alessandro Pasetti
email: [email protected]
mobile: +44 7402 255 512
Comment on this article