Speculation Swirls: ESR (01821.HK) Progresses in Privatization Talks Led by Warburg Pincus
- 72
HONG KONG, May 10, 2024 - (ACN Newswire) - The Hong Kong-listed company ESR (01821.HK) has once again been reported to have progress in privatization this week.
According to informed sources, the American investment group Warburg Pincus is leading a consortium planning to privatize ESR, a warehousing and logistics development and operation services provider. This news indicates that the ESR board has received a formal tender offer from the consortium, proposing to privatize ListCo for $7-8 billion. Based on ESR's current market value, the potential privatization premium is approximately 40% to 60%. The board has agreed to proceed with the transaction, and the funds for this deal have also been largely secured. The transaction is expected to be completed in the second half of 2024.
It is known that Warburg Pincus is ESR's largest shareholder. The 2023 financial report shows that ESR's total assets under management reached $156.1 billion, with operations covering Greater China, Japan, South Korea, Australia, New Zealand, Southeast Asia, and other countries and regions.
Some analysts point out that since logistics assets can generate stable cash flows, they are generally favored by international large institutions such as Middle Eastern investors and sovereign wealth funds, which may help Warburg Pincus raise more funds to support the potential privatization offer in the international capital market.
As of the date of this report, the company has not issued any clarification announcements.
Copyright 2024 ACN Newswire . All rights reserved.
According to informed sources, the American investment group Warburg Pincus is leading a consortium planning to privatize ESR, a warehousing and logistics development and operation services provider. This news indicates that the ESR board has received a formal tender offer from the consortium, proposing to privatize ListCo for $7-8 billion. Based on ESR's current market value, the potential privatization premium is approximately 40% to 60%. The board has agreed to proceed with the transaction, and the funds for this deal have also been largely secured. The transaction is expected to be completed in the second half of 2024.
It is known that Warburg Pincus is ESR's largest shareholder. The 2023 financial report shows that ESR's total assets under management reached $156.1 billion, with operations covering Greater China, Japan, South Korea, Australia, New Zealand, Southeast Asia, and other countries and regions.
Some analysts point out that since logistics assets can generate stable cash flows, they are generally favored by international large institutions such as Middle Eastern investors and sovereign wealth funds, which may help Warburg Pincus raise more funds to support the potential privatization offer in the international capital market.
As of the date of this report, the company has not issued any clarification announcements.
Copyright 2024 ACN Newswire . All rights reserved.
JCN Newswire
JCN Newswire is an associate company of ACN Newswire, which established ACN Newswire, a press release distributor for Asian companies and organizations, in 2001.
Global press release distribution and financial disclosure; Direct distribution to financial terminals, desktops and financial media; English, Chinese, Korean and Japanese press release translation and distribution
Lastest news
- Jacobio Pharma Presents SHP2 Plus KRAS G12C Data at ASCO
- OPPO Scores Unforgettable Experiences with Global Brand Ambassador Kaka' at the UEFA Champions League Final 2024
- CStone Announces European Medicine Agency CHMP Recommends Approval of Cejemly® (sugemalimab, anti-PD-L1) as First-Line Treatment for NSCLC
- Heineken® Celebrates Thousands of ‘Real Hardcore Fans’ by Helping Them Take Part in the UEFA Champions League Final Trophy Celebrations For The First Time Ever
- Innovent Presents Phase 1 Clinical Data of First-in-class PD-1/IL-2α Bispecific Antibody Fusion Protein (IBI363) in Melanoma, Colorectal Cancer and other Solid Tumors at the 2024 ASCO Annual Meeting
- Innovent Presents at the 2024 ASCO Annual Meeting on Clinical Data of anti-CLDN18.2 ADC (IBI343) in Patients with Advanced Pancreatic Cancer or Biliary Tract Cancer
Lastest videos