GLP buys Shanghai firm for 350m yuan
WAREHOUSE owner Global Logistic Properties (GLP) has bought a Chinese firm called Shanghai Jingxi Business Consulting Co for 350 million yuan (S$72 million) in cash, it said in a Singapore Exchange filing on Monday.
It said its indirect subsidiary had bought 100 per cent of Shanghai Jingxi, and that after the purchase, it holds about a 45.6 per cent stake in total in Beijing Capital Farm.
It did not elaborate on what Shanghai Jingxi or Beijing Capital Farm were.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
AIA launches wealth centre targeting high-net-worth clients
Samba, Gazelle shoes help drive Adidas sales while North America lags
Bank of Japan upbeat on consumption, service price outlook
Brokers’ take: KGI initiates Winking Studios with ‘outperform’, S$0.34 target price
Delayed rate cuts expected to benefit Singapore banks’ otherwise uneventful Q1 earnings
Fast-fashion giant Shein wants to sell skincare, toothpaste and toys, too