GLP to get up to $2.5 billion investment from China consortium

SINGAPORE Tue Feb 18, 2014 4:37am EST

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SINGAPORE Feb 18 (Reuters) - Global Logistic Properties Ltd said on Tuesday it expects a group of Chinese state-owned enterprises and financial institutions to invest up to $2.5 billion in the company.

GLP, a provider of logistics facilities in China, Japan and Brazil, said $2.35 billion will be invested in its wholly-owned Chinese subsidiary and $163 million in the parent company.

Its strategic partners include Bank of China Group Investment, a wholly owned unit of Bank of China, HOPU Funds and a large Chinese insurance company, GLP said in a statement.

The transaction is subject to regulatory and shareholder approval, the company said.

GLP shares closed up 1.8 percent, posting the biggest daily rise in more than two months.

(Reporting by Rujun Shen and Stephen Aldred in Hong Kong; Editing by Miral Fahmy)

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