10.1 C
April 15, 2021

ProLogis & AMB Property Corporation announce merger

AMB Property Corporation (AMB) and ProLogis (PLD) announced, yesterday, they had signed a final agreement to merge their correspondent divisions, thus setting up the world’s biggest industrial real-estate owner, operator and developer, according to a release remitted to “Nine O’Clock”. It is estimated that, following the merger, the companies will have a market capitalization, on a pro forma basis, of approximately USD 14 bln, a stock market capitalization of over USD 24 bln, and gross assets, owned and under management, of approximately USD 46 bln.

The joint company brings together two highly complementary client franchises in the real-estate business. Their combined portfolio features approximately 55.7 million sq m-worth of modern distribution spaces, which are found on key markets and important logistic corridors in 22 countries. Both companies boast solid portfolios in North America, Western Europe and Japan. ProLogis is well-consolidated in the United Kingdom, as well as Central and Eastern Europe, while AMB has a significant footing in China and Brazil.
“This merger is a process in which two extraordinary companies join forces to set up a stronger platform, to generate value and sustainable growth. By joining forces, they will create a company which will claim the leader position in providing logistic real-estate venues – a Blue Chip REIT (real estate-investment trust) structure,” Hamid R. Moghadam, CEO of AMB, stated. The joint company will be a global player, operating on four continents. (m.a.)

Related posts

Timken Company – global leader on the roller bearings market, opens new plant in Romania

Attempted merger of Vienna and Warsaw Exchanges fails

Nine O' Clock

ForMin Corlatean proposes Russia to resume Treasury Commission works

Nine O' Clock