ESR Group acquires Mitsui’s 7.7% stake in ESR-LOGOS REIT Manager

ESR Group, APAC’s largest real asset manager powered by the New Economy, has agreed to, and is in the process of acquiring 7.7 percent of the total issued shares in ESR-LOGOS Funds Management, the manager of ESR-LOGOS REIT (E-LOG Manager), from Mitsui & Co.

Before this transaction, ESR had acquired 654,546 shares in the E-LOG Manager from Shanghai Summit Pte. Ltd., a company wholly owned by Tong Jinquan, bringing its interest to 91.3 percent. With the acquisition of Mitsui’s stake, ESR owns 99 percent of the E-LOG Manager.

“As the Sponsor of E-LOG, we are delighted to have increased our stake in the E-LOG Manager twice in quick succession to reach 99 percent and we thank Mitsui for their support,” said Jeffrey Perlman, Chairman of ESR. “This transaction will further enable ESR-LOGOS REIT and the E-LOG Manager to deliver on our strategy of creating long-term and sustainable value in an increasingly competitive market. To this end, we remain steadfast in ou