GIC’s Global Logistics to buy China’s airport city

January 4, 2011
Singapore Democrats

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Chris Peterson
Bloomberg

gic2Global 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