ProLogis Boosts PEPR Stake To 60%

Real-estate company,ProLogis, has increased its stake inProLogis European Properties(PEPR) to about 60%,The Wall Street Journalreports. The Dutch pension-fund asset manager,APG Algemene Pensioen Groep, and an affiliate of theGovernment of Singapore Investment Corporationhave agreed to sell their shares.

Initially, ProLogis held about 39% of PEPR, which has a total value of about €1.22 billion. ProLogis had previously offered to buy the stake for €6.10 per share, which was rejected by PEPR.

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