Print Edition - 2017-06-04  |  Money Digest

Logicor sold for $13.8 billion

- - AP, BEIJING

Jun 4, 2017-

China’s sovereign wealth fund is expanding its presence in Europe by acquiring a warehouse company in a 12.25 billion euro ($13.8 billion) deal. China Investment Corp’s purchase of Logicor from US investment firm Blackstone Group adds to a multibillion-dollar string of Chinese acquisitions in Europe. Logicor operates in 17 countries. Blackstone said the company was “ideally positioned” to profit from growth in e-commerce. Chinese companies are in the midst of a multibillion-dollar global buying spree to acquire brands, technology and real estate. They are especially active in Europe, which they see as more welcoming than the United States, where security reviews of some Chinese purchases have made potential buyers skittish.

Published: 04-06-2017 09:29

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