GLP to delist from SGX after privatisation deal

Nesta eyes expanding GLP's platform to new markets.

The Global Logistics Properties is planning to delist from Singapore Exchange following a privatisation deal led by Nesta Investment Holdings.

According to a report by Shiwen Yap in DealStreet Asia, the privatisation and its delisting from the Singapore bourse – proposed on 14 July – will not impact the businesses and operations of the GLP Group.

"Nesta Investment Holdings – a vehicle jointly owned by SMG held by GLP CEO Ming Z. Mei, HOPU, Hillhouse Capital, Bank of China Group Investment and Vanke Group – intends to work with GLP to expand its platform in existing and new markets," the report said.

Additionally, the acquisition will see an exit for Singapore’s sovereign wealth fund GIC, which holds 36.84% stake in the group.

In a statement, Nesta said it will be able to strengthen GLP Group’s global leadership position by creating a logistics ecosystem that utilises the latest technology and data to provide solutions for GLP Group’s customers.

More so, the investment firm said it will actively build upon GLP Group’s fund management platform in existing and new markets and extending partnerships with leading global institutional investors. Such growth initiatives may include establishing a new China income fund, continuing to sell assets to the J-REIT and potentially expanding into Europe.