{"id":95869,"date":"2024-09-17T00:00:00","date_gmt":"2024-09-17T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/adia-esr-offload-stake-in-australian-logistics-jv\/"},"modified":"2024-09-17T00:00:00","modified_gmt":"2024-09-17T00:00:00","slug":"adia-esr-offload-stake-in-australian-logistics-jv","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/09\/17\/adia-esr-offload-stake-in-australian-logistics-jv\/","title":{"rendered":"Adia, ESR offload stake in Australian logistics JV"},"content":{"rendered":"

ESR, Adia offload USD 2.2 bn logistics stake:<\/strong> ESR Group<\/a> and the Abu Dhabi Investment Authority are selling a stake in their USD 2.2 bn Australian logistics portfolio to a Japanese-managed vehicle and a Malaysian fund in what would be the largest logistics transaction in Australia this year, according to a statement<\/a> by Hankyu Hanshin Properties, which manages the Japanese JV. <\/p>\n

The buyers will pay some AUD 536 mn for the stake<\/strong>, Mingtiandi<\/a> reports, without disclosing the exact size of the stake. <\/p>\n

The details: <\/strong>Hankyu Hanshin Properties and an unnamed Malaysian fund will acquire a portion of the 11-property portfolio, which spans major Australian cities including Sydney, Melbourne, Brisbane, and Perth.<\/p>\n

Background: <\/strong>Adia and Aussie industrial developer Logos had set up a JV \u2014 named LALV \u2014- which came under ESR management in early 2022 following the group\u2019s USD 5.2 bn takeover of Singapore-based ARA Asset Management, which had acquired a majority stake in Logos in 2020. Adia invested additional funds in LALV in 2022, which was then valued at AUD 3.7 bn. <\/p>\n

OTHER M&A NEWS- <\/p>\n

Indian visa service provider <\/strong>BLS International<\/a><\/strong> signed an agreem<\/strong>ent to acquire <\/strong>Dubai-based visa advisory firm <\/strong>Citizenship Invest<\/a><\/strong> (CI) for USD 31 mn<\/strong>, CNBC TV18<\/a> reports. The acquisition, funded through internal accruals, is set to be completed by 31 October, pending regulatory approvals. <\/p>\n

The acquisition will drive CI\u2019s expansion<\/strong>, as the company plans to use BLS\u2019 global presence across 66 countries for its expansion plans, including opening new offices and recruiting, according to a press release<\/a>. The company is planning on multiplying their sales \u201cexponentialliy\u201d in the next three years, CI\u2019s CEO, Inigo de Luna said. <\/p>\n

Who are BLS and CI? <\/strong>BLS International holds an exclusive visa processing contract with Spain and has partnerships with 45 other governments, including Canada, Germany, Italy, and Hungary. CI, on the other hand, specialized in expedited investor programs for acquiring residency and citizenship in over 15 countries.<\/p>\n

ADVISORS-<\/strong> Awad Capital acted as the exclusive financial advisor to CI for the transaction, while BLS International received legal counsel from Al Tamimi and Company.<\/p>\n","protected":false},"excerpt":{"rendered":"

Plus: BLS International acquires Dubai-based visa advisory firm Citizenship Invest<\/p>\n","protected":false},"author":1,"featured_media":95870,"comment_status":"","ping_status":"open","sticky":false,"template":"single-feature.php","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":[2392],"tags":[368,1823,1824,7,99,1344,60],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-95869","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch-2","tag-abu-dhabi-investment-authority","tag-bls-international","tag-citizenship-invest","tag-enterpriseam-uae","tag-logistics","tag-ma","tag-ma-watch","wpautop","entry"],"acf":{"mongo_id":"1ab825bf-7a7d-412c-a984-d40e4400ec9c","order":"7","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/9\/1256.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Adia, ESR offload stake in Australian logistics JV","related_issue":[95857],"teaser":"Plus: BLS International acquires Dubai-based visa advisory firm Citizenship Invest","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/9\/.b7ea67f0-e11c-4bdd-85f7-a9d6cd9757c5.mp3"},"yoast_head":"\nAdia, ESR offload stake in Australian logistics JV - 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