€316.2 million acquisition of 21 industrial properties in Germany and the Netherlands and S$476 million equity fund raising by Frasers Logistics & Industrial Asset Management Pte. Ltd.
A&G News 26 November 2018
Allen & Gledhill advised Frasers Logistics & Industrial Asset Management Pte. Ltd. (“FLAM”), in its capacity as manager of Frasers Logistics & Industrial Trust (“FLT”), as transaction counsel on the €316.2 million acquisition of 21 industrial properties comprising 17 properties in Germany and four properties in the Netherlands (the “New Properties”).
FLT will acquire the New Properties for an approximate sum of €316.2 million through the acquisition of all the issued shares of FPE Logistics B.V., which in turn directly or indirectly owns equity interests in holding companies which hold the New Properties (the “Proposed Acquisition”).
Allen & Gledhill also advised FLAM on the approximately S$476 million equity fund raising in connection with the Proposed Acquisition to partially fund the purchase consideration payable of approximately €316.2 million, with the proceeds from a private placement to institutional and other investors, and a non-renounceable preferential offering of new units in FLT to existing unitholders of FLT on a pro rata basis.
Advising FLT and FLAM were Allen & Gledhill Deputy Managing Partner Jerry Koh and Partner Long Pee Hua.