18 July, 2017
Davis Polk is advising China Vanke Co. in connection with its participation in a consortium to acquire all of the equity interests of Global Logistics Properties Ltd. (“GLP”) for approximately S$15.9 billion (equivalent to approximately US$11.6 billion). The closing of the transaction is subject to customary regulatory and shareholder approvals.
GLP is listed on the Mainboard of the Singapore Exchange. GLP and its subsidiaries own, manage and develop logistics facilities, including a portfolio of 55 million square meters of modern logistics facilities in China, Japan, the United States of America and Brazil, and GLP is also one of the world’s largest real estate fund managers, with assets under management of approximately $39 billion.
China Vanke Co. is a leading real estate company that develops residential properties, as well as other retail and industrial properties for urban auxiliary purposes. Vanke offers property services in 65 large and medium-sized Chinese cities with a total of over 1,800 service projects, more than 356 million square meters of contractual area, and 10.75 million users served. Vanke is dual-listed on the Shenzhen and Hong Kong Stock Exchanges.
The Davis Polk team includes partners Paul Chow and Li He, counsel registered foreign lawyer Lijun (Annie) Yan, counsel Chu Yang and associate Kai Sun. Members of the Davis Polk team are based in the Beijing and Hong Kong offices.
