Mapletree Logistics Trust (SGX:M44U) agreed to acquire PORTFOLIO OF 13 GRADE-A LOGISTICS ASSETS IN CHINA from ITOCHU Corporation (TSE:8001) and Mapletree Investments Pte Ltd. for an enterprise value of CNY 4.2 billion on November 22, 2021. The Manager intends to finance the proposed acquisitions via a combination of equity and debt. As of November 23, 2021, Mapletree Logistics Trust will raise equity funding of CNY 3.3 billion, out of which CNY 3.2 billion (which is equivalent to 96.5% of the gross proceeds of the equity fund raising) to partially fund the IPT acquisitions and the third party acquisition (together with the IPT acquisitions, the “acquisitions”); and approximately CNY 120 million (which is equivalent to 3.5% of the gross proceeds of the equity fund raising) to pay the estimated professional and other fees and expenses incurred or to be incurred by MLT in connection with the acquisitions and equity fund raising. The deal is expected to close in fourth quarter of fiscal year ending March 31, 2022. As of January 20, 2022, Mapletree Logistics Trust (SGX:M44U) completed the acquisition of 12 of the PRC acquisitions.

Mapletree Logistics Trust (SGX:M44U) completed the acquisition of PORTFOLIO OF 13 GRADE-A LOGISTICS ASSETS IN CHINA from ITOCHU Corporation (TSE:8001) and Mapletree Investments Pte Ltd. for an enterprise value of CNY 4.2 billion on April 1, 2022.