Prologis, Norway's SWF to buy KTR assets for US$5.9b
Acquisition set to expand Prologis's position in key US markets
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PROLOGIS Inc, the world's largest owner of industrial real estate, and Norway's US$890 billion sovereign wealth fund (SWF) agreed to buy KTR Capital Partners for US$5.9 billion to expand in key US markets.
The purchase will be made by Prologis US Logistics Venture, a partnership with Norges Bank Investment Management, the San Francisco-based company said on Sunday in a statement. The deal includes the assumption of about US$700 million in debt and the issuance of as much as US$230 million of common limited partnership units in Prologis LP to KTR.
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