CIC buys warehouse company
Print Edition
CHINA’S sovereign wealth fund is expanding its presence in Europe by acquiring a warehouse company in a 12.25 billion euro (US$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 including Britain, Germany and France. 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.
CIC was founded in 2007 to invest a portion of China’s foreign reserves. It has more than US$810 billion in assets.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
