ProLogis Boosts PEPR Stake To 60%
Real-estate company, ProLogis, has increased its stake in ProLogis European Properties to about 60%.
Real-estate company, ProLogis, has increased its stake in ProLogis European Properties (PEPR) to about 60%, The Wall Street Journal reports. The Dutch pension-fund asset manager, APG Algemene Pensioen Groep, and an affiliate of the Government of Singapore Investment Corporation have agreed to sell their shares. Initially, ProLogis held about 39% of PEPR, which has a total value of about €1.22 billion. ProLogis had previously offered to buy the stake for €6.10 per share, which was rejected by PEPR.
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