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BRIEF-Global Logistic Properties updates on ‍proposed privatization of Co
July 14, 2017 / 6:05 AM / 2 months ago

BRIEF-Global Logistic Properties updates on ‍proposed privatization of Co

July 14 (Reuters) - Global Logistic Properties Ltd -

* ‍Proposed privatization of GLP​

* ‍Offer of S$3.38 in cash per share​

* Offer represents 81% premium over 12-month VWAP and exceeds highest ever closing price since listing​

* ‍Offer values company at approximately S$16 billion​

* Proposed acquisition will be effected by way of a scheme of arrangement​

* ‍Scheme will require approvals from more than 50% of number of shareholders and High Court Of Singapore​

* Transaction is expected to be completed on or before 14 April 2018‍​

* Scheme consideration will not be reduced by proposed dividend of s$0.06 per share announced on 19 may 2017​ Source text for Eikon: Further company coverage:

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