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Sovereign Wealth Funds Briefing - Categorized | Investment, Market

Norway’s wealth fund to buy property stake from Prologis

Posted on 30 December 2013

Norway’s $812-billion sovereign wealth fund, the world’s largest, has agreed to buy a 45-percent stake in a portfolio of U.S. warehouses valued at $1 billion from U.S.-based Prologis as the fund builds up its still-small property assets.
The fund will pay $450 million for the stake, leaving Prologis with 55 percent to manage the assets. The deal involves forming a joint-venture between the two organizations, the second between the two. Last year the fund agreed to buy from Prologis a 50-percent stake in a portfolio of European warehouses for 1.2 billion euros………………………………………..Full Article: Source


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