Prologis has reached an agreement with the board of SEGRO on the terms of a recommended acquisition valuing SEGRO’s entire ordinary share capital issued and to be issued at approximately $18.8 billion.
The combination would bring together two portfolios in a global platform with approximately $269 billion of assets under management.
The transaction would create a European operating portfolio of 368 million square feet, expanding Prologis’ European footprint by 47 percent. It also would establish a combined European development pipeline of 13 million square feet and increase Prologis’ European land bank by 126 percent.
Prologis said the combination would expand long-term growth opportunities across logistics, energy and digital infrastructure.
“This deal brings together SEGRO’s exceptional portfolio and customer relationships with Prologis’ global platform, operating expertise and financial strength,” said Daniel S. Letter, CEO of Prologis.
