GLP Signs Strategic Partnership Agreement with China Development Bank Capital

GLP Signs Strategic Partnership Agreement with China Development Bank Capital

GLP has signed a strategic partnership agreement with China Development Bank Capital Limited. CDB Capital is the wholly­owned equity investment and asset management arm of China Development Bank, the largest and most influential developmental financial institution in China and the country’s primary financial institution for promoting infrastructure development.

 

  • CDB Capital is the equity investment and asset management arm of China Development Bank, the primary financial institution for promoting infrastructure development and urbanization in China
  • GLP to become CDB Capital’s major partner for logistics infrastructure development, enhancing GLP’s access to land and financing resources
  • Partnership expected to drive value creation as GLP accelerates its development pace

 

Singapore, 8 October 2014 – Global Logistic Properties Limited (“GLP”), the leading provider of modern logistics facilities in China, Japan and Brazil, has signed a strategic partnership agreement with China Development Bank Capital Limited (“CDB Capital”). CDB Capital is the wholly-owned equity investment and asset management arm of China Development Bank (“CDB”), the largest and most influential developmental financial institution in China and the country’s primary financial institution for promoting infrastructure development and urbanization. CDB Capital, via China Development Bank International Holdings Limited (“CDB International”), invested in GLP China in the second tranche of GLP’s landmark China consortium investment completed on 24 September 2014.
 

CDB Capital has a major focus on investing in projects driving urbanization in China, a key policy priority of the Chinese government. CDB Capital is actively involved in the country’s urbanization and infrastructure development projects together with local municipalities. Under the strategic partnership, GLP will become CDB Capital’s major partner for logistics infrastructure development and this will enhance GLP’s access to land and financing resources in China.
 

Mr. Ming Z. Mei, Chief Executive Officer of GLP, said: “We are delighted to establish this strategic partnership, which follows the second tranche completion of our landmark China consortium investment last week. As the main institutional investor promoting urbanization and infrastructure development projects in China, CDB Capital will enhance our land sourcing capabilities which will help us drive value creation as we ramp up growth across China.”
 

Mr. Fan Haibin, President of CDB Capital, said: “Logistics infrastructure is a policy priority for the Chinese government, with domestic consumption expected to be the economy’s main growth driver going forward. GLP’s unrivalled expertise in logistics network planning, development and management of modern facilities provides an ideal platform to enable this growth. We are pleased to forge this long-term partnership with GLP and look forward to continued cooperation.”
 

CDB is the largest and most influential developmental financial institution in China. It is also the primary medium- to long-term investment and financing services provider in China, which aligns its business focus with national economic strategy and allocates resources to promote China’s economic and social development. CDB is committed in supporting national infrastructure, basic industries, pillar industries and national priority projects and promoting coordinated regional development and urbanization. As at 30 June 2014, CDB’s total assets totaled approximately RMB 9.9 trillion (US$1.6 trillion1). In the first half of 2014, CDB lent approximately RMB 683.2 billion (US$111.3 billion) in urbanization-oriented loans. CDB Capital and CDB International are wholly-owned entities of CDB, which are engaged in equity investment and asset management business in China and overseas.


About Global Logistic Properties (www.glprop.com)

Global Logistic Properties Limited (“GLP”) is the leading provider of modern logistics facilities in China, Japan and Brazil. Our property portfolio of 27 million square meters (290 million square feet) is strategically located across 76 cities, forming an efficient logistics network serving almost 800 customers. We are dedicated to improving supply chain infrastructure for the world’s most dynamic manufacturers, retailers and third party logistics companies. Domestic consumption is a key driver of demand for GLP.
 

The Group is listed on the Mainboard of Singapore Exchange Securities Trading Limited (SGX stock code: MC0.SI; Reuters ticker: GLPL.SI; Bloomberg ticker: GLP SP).

 


GLP Investor Relations & Media Contact:

Ambika Goel, CFA

SVP- Capital Markets and Investor Relations

Tel: +65 6643 6372

Email: agoel@glprop.com

 

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1 Unless stated, all exchange rates are reported as 1 USD = RMB6.14, the closing exchange rate as of 7 October 2014