GIC Increases Stake in Dexus Australian Logistics Trust
Posted on 01/07/2020
Singapore’s GIC Private Limited acquired an additional 24% stake in the unlisted Dexus Australian Logistics Trust (DALT) bringing its ownership up to 49%. The estimated transaction cost was A$ 366.1 million. GIC exercised its second tranche rights to make the acquisition, lowering Dexus’s ownership stake to 51%.
Approximately 97% of DALT’s assets are in the Sydney and Melbourne markets and consists of traditional logistics facilities.
