CIC to Profit from Goodman Group Investment
Posted on 12/13/2012
In 2009, the China Investment Corporation (CIC) invested in a recapitalization for the Goodman Group, an Australian industrial property company. The recapitalization and facility provided to the Goodman Group provided them additional liquidity and helped the real estate firm improve their debt structure. The CIC is planning to sell a 6.9% stake in the Goodman Group, possibly doubling their money while receiving dividends since inception.
Goodman Group Chief Executive Officer, Greg Goodman said, “We have a strong relationship with CIC and look forward to further building on this as we explore opportunities in all of the major markets in which Goodman operates globally.”