Morrison & Foerster is advising Global Logistic Properties Limited (GLP), the leading provider of modern logistics facilities in China, Japan and Brazil, in its landmark agreement with a group of strategic partners, as detailed in its press release. The first tranche of the transaction – which comprises a US$1.48 billion investment in China Holdco and a US$163 million investment in in GLP Listco – has closed. The second tranche, with a planned investment of up to US$875 million in China Holdco is expected to be completed within the next six months.
Morrison & Foerster is advising Global Logistic Properties in the transaction with a corporate team led by Singapore corporate partner Eric Piesner and Hong Kong corporate partner Marcia Ellis, together with Shanghai real estate partner Maria Wang; Hong Kong corporate partner Jeremy Hunt; San Francisco tax partner Michelle Jewett; and Tokyo corporate partner Leo Aguilar. Ms. Wang joined the firm in Shanghai this week, bringing PRC experience, an extensive background working on complex, high-end real estate transactions, and sophisticated knowledge of offshore legal regimes to further strengthen Morrison & Foerster’s top tier Asia real estate practice.
In connection with closing on the transaction, the Board of GLP has appointed Fang Fenglei as a Non-Executive & Non-Independent Director and a member of its Investment Committee. He is Founding Partner and Chairman of HOPU Investments Co. Ltd, and Non-Executive Chairman of Goldman Sachs Gao Hua Securities Company Limited.
