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Singapore's GIC to invest over 200m euros in Spanish property firm

[SINGAPORE] Singapore sovereign wealth fund GIC has agreed to pay more than 200 million euros (S$252 million) for a 30 per cent stake in unlisted Spanish real estate firm Gmp, the two companies said in a statement on Wednesday. "As a long-term value investor, this is a good opportunity for GIC to gain access to a large and diversified office portfolio in Madrid and leverage on Gmp's local expertise to grow our exposure," said Chris Morrish, regional head of Europe at GIC real estate. - Reuters

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