Frasers Centrepoint unit to buy 76.5% of German logistics player

Singapore

A UNIT of Frasers Centrepoint Limited has agreed to acquire a 76.5 per cent stake, worth 20.5 million euros (S$32.1 million), in a German company that has freehold interest in an automotive logistics facility in Germany.

The mainboard-listed real estate company said on Friday in a filing to Singapore Exchange that its indirect subsidiary Geneba Properties NV has, through its wholly owned subsidiary Gene-ba RE19 BV, entered into a conditional agreement to acquire the stake in Harder, Gutperle, Harder & Gutperle GmbH GbR.