SINGAPORE Feb 18 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)