Mapletree Logistics Trust entered into share purchase agreement to acquire the Portfolio of 3 logistics Properties in Vietnam from ITOCHU Corporation and Mapletree Investments Pte Ltd. for approximately SGD 130 million.

Mapletree Logistics Trust (SGX:M44U) entered into share purchase agreement to acquire the Portfolio of 3 logistics Properties in Vietnam from ITOCHU Corporation (TSE:8001) and Mapletree Investments Pte Ltd. for approximately SGD 130 million on November 22, 2021. In related transaction, Mapletree Logistics Trust agreed to acquire PORTFOLIO OF 13 GRADE-A LOGISTICS ASSETS IN CHINA from ITOCHU Corporation and Mapletree Investments Pte Ltd. for CNY 4.2 billion on November 22, 2021.Transaction will be funded through combination of equity and debt. The Manager intends to finance the proposed Acquisitions via a combination of equity and debt.

As of December 1, 2021 Mapletree logistics is raising equity funding of SGD 700 million to partially fund the transaction. The acquisition fee for interested person transactions include SGD 5.1 million. Transaction is subject to approval of Mapletree board and its Unit holders in general meeting along with approval of SGX and receipt by trustees of proceeds of equity fund raising or Debt borrowing.

The deal is expected to close in fourth quarter of fiscal year ending March 31, 2022. As of January 13, the Mapletree has received the approval from unit holders in extraordinary general meeting.