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Global Logistic Properties Ltd's China Logistics Holding XXXVI II Srl Announces Acquisition Of Suzhou GLP Wangting Development Co., Ltd From Suzhou Logistics Center Co., Ltd


Wednesday, 13 Mar 2013 06:03am EDT 

Global Logistic Properties Ltd announced that China Logistics Holding XXXVI II Srl, an indirect wholly-owned subsidiary of the Company, has on March 08, 2013 , acquired the remaining 50% interest in Suzhou GLP Wangting Development Co., Ltd. (Suzhou GLP Wangting) for a cash consideration of RMB122, 270,400 from its joint venture partner Suzhou Logistics Center Co., Ltd., a Government - owned company affiliated to the Suzhou Industrial Park Administrative Committee. Following the acquisition, Suzhou GLP Wangting is a 100% owned indirect subsidiary of the Company .