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Prologis to Acquire DCT Industrial Trust

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San Francisco-based Prologis Inc. agree to acquire Denver-based DCT Industrial Trust, a logistics property owner, for US$ 8.4 billion in stock and assumed debt. The transaction roughly equates to a 16% premium over DCT’s closing share price on April 27, 2018.

Prologis is the largest warehouse owner on the planet. The company is keen on growing market share and by acquiring a rival like DCT, will improve firm economics.

APG Asset Management and PGGM were the two largest direct public asset owners of DCT, together controlling about 3.5% of the shares outstanding.

Advisors

Prologis is advised by J.P. Morgan Chase and law firm Mayer Brown. DCT is advised by Bank of America Merrill Lynch and Goodwin Procter LLP.

ADIA Seeks to Sell KIC Headquarters

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The Abu Dhabi Investment Authority (ADIA) is seeking to sell the building that houses the headquarters of the Korea Investment Corporation (KIC). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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BMO and OTPP Test Blockchain Canadian Dollar Debt Deal

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The Bank of Montreal (BMO) and the Ontario Teachers’ Pension Plan (OTPP) participated in a landmark blockchain Canadian-dollar debt transaction. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Just Group Acquires Corinthian Pension Consulting

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Just Group plc acquired a 75% ownership stake in the holding company of Corinthian Pension Consulting Limited (Corinthian Pension Consulting). Operating in the institutional world for over 12 years, Corinthian Pension Consulting provides advisory services to defined-benefit pension scheme trustees and scheme sponsors undertaking bulk scheme exercises. The remaining 25% will be retained by current shareholders of Corinthian Pension Consulting. Robert MacGregor will continue to lead Corinthian Pension Consulting, as its Chief Executive Officer. Furthermore, Corinthian Benefits Consulting Limited and Corinthian Affinity Solutions Limited will continue to operate as before, becoming part of a newly formed holding company, Corinthian Group Holdings Limited.

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