GLP makes $375 million China acquisition

Global Logistic Properties uses IPO proceeds and shares as currency to acquire a 53% stake in the logistics facility attached to the Beijing airport.

Sameera Anand

January 06, 2011

Global Logistic Properties (GLP) has bought a 53% stake in Airport City Development (ACD), the sole developer of the airside cargo handling and bonded logistics facility at Beijing airport for a net price of around $375 million.

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