30.12.2013 - Norway's wealth fund to buy property stake from Prologis
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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