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Announced

Keppel and Manulife to form a $200m joint venture.

Financials

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Transaction Value£159m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Majority

Joint Venture

logistics real estate

Other Specialty REITs

Indonesia

Single Bidder

Private

Pending

Friendly

logistics assets

Private Equity

Synopsis

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Keppel, a Singaporean conglomerate, and Manulife, a Canadian multinational insurance company, agreed to form a $200m joint venture which will focus on Indonesia’s fast-growing logistics property sector. "We are thrilled to partner with Alpha and MMP for our first real estate investment in Indonesia. The quality of the assets is well regarded and, along with the country’s positive long-term macro and demographics prospects, this acquisition fits well with our long-term investment strategy for the Asia Pacific market and will surely bring added value to us and to Indonesia in the long run," Ryan Charland, Manulife President Director & CEO of Indonesia.

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