GIC pays Apollo €950m for 28 distribution facilities in Europe

© Jingaiping warehouse

© Jingaiping

By Alex Lennane

16/12/2019

In what must surely be one of the last deals of 2019, Singapore sovereign wealth fund GIC has acquired 28 distribution facilities from Apollo Global Management.

The Maximus portfolio, costing some €950m, covers more than a million sq metres of industrial space across Europe and GIC said it would integrate it into its existing European warehouse arm, P3 Logistics Parks.

The deal with Apollo – a former shareholder in Ceva Logistics – will close in the first quarter of 2020, according to Mingtiadi. It is the largest real estate deal made in Germany this year, and one of the largest in Europe.

Read more...

Comment on this article

You must be logged in to post a comment.

Topics

Apollo Distribution centres GIC courting judgment IPO The CEVA story

Most Read

Carriers return to aggressive voyage blanking to mitigate reduced demand

MSC launches more solo services after 'meteoric' capacity increase

Shippers to pay the penalty as ONE set to apply overweight charge

Air cargo rates plummet alongside consumer demand for Bangladesh apparel

Explosion at Aqaba Port kills 14 after crane drops container of chlorine gas

2022 ocean and air freight markets: a mid-year assessment

AirBridgeCargo's Europe staff given termination notices, and bonus if they go

M&A radar: DB Schenker gulps a (jagged, little) poison pill

Ocean freight peak season hangs in the balance – will it sail or sink?

Shippers cry foul as competition regulators ignore consortia

Container tracking 'a train not going to stop', predicts Drewry

Air cargo weaker, but FedEx says it's ready for more 'economic headwinds'

Market Insight: Vienna's €1.8bn cargo-partner 'on the market' – rumours spring

Shareholder class action a threat to DB Schenker takeover of USA Truck?

Box tracking popularity soars – but the big debate is, who owns the data?

Order to cut flights at Schiphol 'a challenge' and raises fears at other airports