GLP sells new shares to fund Brazil acquisition

The Singapore-listed provider of logistics properties raised $339 million to cover its share of a $1.45 billion acquisition with partners GIC, CIC and the Canada Pension Plan Investment Board.

GLP sells new shares to fund Brazil acquisition

Singapore-listed Global Logistic Properties GLP has raised S$414.4 million $339 million from the sale of new shares that it will use to fund its share of an acquisition of logistic properties and developments in Brazil.

The acquisition was announced late afternoon yesterday and is expected to be completed in early December. The total acquisition cost is 2.9 billion Brazilian real $1.45 billion, but GLP has teamed up with three high-profile partners so its initial...

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