Chris Peterson
Bloomberg
Global Logistic Properties Ltd., a unit of Singapore’s investment fund, Government Investment Corp., is in talks to buy a controlling stake in China’s Airport City Development Co., the Wall Street Journal said, citing people familiar with the matter.
Airport City Development, in which Beijing Capital International Airport holds a 40 percent stake, is solely responsible for air-side cargo and warehouse facilities at Beijing Capital International Airport, the newspaper said.
An announcement is due this week and one person said GLP may pay as much as S$300 million ($233 million) in cash and an unspecified number of shares, the WSJ reported.
http://www.bloomberg.com/news/2011-01-04/gic-s-global-logistics-to-buy-china-s-airport-city-wsj-says.html