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Revisions

GLP shareholders vote in favour of $16 bil privatisation deal

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GLP shareholders vote in favour of $16 bil privatisation deal

Michelle Zhu Published on Thu, Nov 30, 2017 / 12:04 PM GMT+8

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SINGAPORE (Nov 30): Global Logistic Properties (GLP) says its proposed $16 billion acquisition by Nesta Investment Holdings and subsequent privatisation has been approved on the back of “overwhelming shareholder support”.

Nesta Investment is a subsidiary of a management-backed Chinese consortium including private equity firms Hillhouse Capital Management and Hopu Investment Management.

It was announced in July that GLP accepted the consortium’s takeover offer of $3.38 per share in cash.

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