GLP slams reports on $10.6b Blackstone deal

No binding deal has been inked yet.

Mainboard-listed industrial property operator Global Logistic Properties today denied reports that it is buying IndCor, Blackstone Group’s portfolio of US industrial property, for a total consideration of $10.6b (US$8.1b).

In a release to the SGX, GLP denied a report published yesterday by the Wall Street Journal. A story on the publication claimed that IndCor will be bought by GLP and sovereign wealth fund GIC.

“As at the date of this announcement, the Company has not entered into any binding agreement with respect to any decision to pursue this initiative. If and when there are any material developments which warrant a disclosure, the Company will make any further announcements on the Singapore Exchange Securities Trading Limited as and when appropriate in accordance with the listing rules of the SGX-ST,” GLP stated.