Mapletree raises $275m to buy HNA logistics assets

Singapore group raises equity to buy five warehouses from a unit of embattled Chinese conglomerate. It joins a number of Singaporean Reits and trusts in buying assets before further US rate hikes.

Mapletree raises $275m to buy HNA logistics assets

Mapletree Logistics Trust MLT raised S$375 million $275 million from a private placement of new investment units on Wednesday to fund the purchase of assets from debt-ridden Chinese conglomerate HNA Group.

The deal represents the latest significant expansion for MLT, which has grown steadily since listing in 2005. For HNA, it's another step back from a global acquisition spree that turned a regional airline into a global corporate empire.

Wednesday’s...

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