{"id":75596,"date":"2023-12-18T00:00:00","date_gmt":"2023-12-18T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2023\/12\/18\/uaes-mubadala-eyes-a-stake-in-indian-logistics-company-indospace-core\/"},"modified":"2023-12-18T00:00:00","modified_gmt":"2023-12-18T00:00:00","slug":"uaes-mubadala-eyes-a-stake-in-indian-logistics-company-indospace-core","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2023\/12\/18\/uaes-mubadala-eyes-a-stake-in-indian-logistics-company-indospace-core\/","title":{"rendered":"UAE\u2019s Mubadala eyes a stake in Indian logistics company IndoSpace Core"},"content":{"rendered":"

Mubadala eyes a stake in IndoSpace Core<\/strong>:<\/strong> The UAE\u2019s state-owned wealth fund Mubadala<\/a> has bid for a 50% stake in Indian logistics company IndoSpace Core<\/a>, Indian news outlet the Financial Express<\/a> reported on Friday, citing people it says have knowledge of the matter. Mubadala has submitted a bid to buy a 50% stake in the company for USD 700 mn from the Canada Pension Plan Investment Board (CPPIB<\/a>), and Morgan Stanley will be operating the sale process. <\/p>\n

About Indospace Core:<\/strong> Warehouse owner and developer IndoSpace Core is a joint venture project between IndoSpace and CPPIB, who owns 80% of the venture. IndoSpace Core has 50 logistics parks, with 57 mn square feet of space both delivered or under development. <\/p>\n

What they said:<\/strong> \u201cThe portfolio has matured and CPPIB is looking to exit its investment after six years,\u201d sources told the Financial Express. CPPIB has declined to comment on the matter and IndoSpace and Mubadala did not respond to requests for comment. CPPIB plans to stay invested in IndoSpace Core\u2019s parent company, IndoSpace.<\/p>\n

Who else is in the race?<\/strong> Dutch pension fund APG, Canadian investor Oxford Properties, and Ivanhoe Cambridge are also competing for the stake, according to sources.<\/p>\n

Looking ahead:<\/strong> Indospace Core is committed to acquiring 13 industrial and logistics parks around India totaling 14 mn square feet from parent company IndoSpace development funds.<\/p>\n","protected":false},"excerpt":{"rendered":"

IndoSpace Core has 50 logistics parks with 57 mn square feet of space both delivered or under development<\/p>\n","protected":false},"author":1,"featured_media":75597,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[941],"tags":[337,369,17,201,137,129,693],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-75596","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch-2","tag-acquisition","tag-canada","tag-enterprise-logistics","tag-india","tag-ma-watch","tag-uae","tag-warehouse","wpautop","entry"],"acf":{"mongo_id":"c91cbda3-fba3-4245-957f-bc1187db905a","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/12\/1112.jpg","photo_position":"above","homepage_title":"","full_issue_title":"UAE\u2019s 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