August 29, 2012 / 8:55 PM / 6 years ago

Goodman, CPPIB to invest $500 million more in Chinese venture

(Reuters) - Australian industrial property manager Goodman Group (GMG.AX) and Canada Pension Plan Investment Board (CPPIB) said they will invest an additional $500 million in their Chinese logistics joint venture.

Goodman China Logistics Holding (GCLH), which Goodman and CPPIB formed in 2009, will have an equity base of $1 billion after the latest infusion.

CPPIB will contribute $400 million with Goodman contributing the rest, the companies said.

CPPIB and its Canadian peers such Ontario Teachers’ Pension Plan and Caisse du depot et placement are among the world’s most active dealmakers in recent years, making major bets both in Canada and overseas.

    CPPIB said in December 2011 that it would invest an additional $250 million in GCLH. [ID:nL3E7ND3QH]

    Reporting by Ankur Banerjee in Bangalore; Editing by Sriraj Kalluvila

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