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Chinese consortium buys Global Logistic Properties for Record $11.6 Billion

A China-led consortium agreed to pay $11.6 billion for Singapore-based Global Logistic Properties Ltd., one of the world's biggest warehousing companies, in Asia's largest private equity buyout.

The consortium to pay 3.38 Singapore dollars a share for the warehousing company, which operates 55 million square metres of logistics objects in main world's markets.

GLP shares soared 22 percent to 3.30 Singapore dollars but the company is likely to be delisted from the stock market and operate as a private enterprise subject.

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