(Yicai Global) July 19 -- China Vanke [SHE:000002] said on July 17 that trading of its A-shares would resume on July 18. The firm unveiled details on the acquisition of Global Logistic Properties Ltd. [SGX:MC0] (GLP).

The GLP deal was carried out via Vanke Real Estate (Hong Kong) Co., an indirectly wholly-owned subsidiary of China Vanke. Vanke was part of a consortium that agreed to the terms of the acquisition on July 5 and the shareholder and subsidiary agreements on July 14.

Under the consortium's arrangement, the offeror is a special-purpose vehicle that is indirectly wholly-owned by Nesta Investment Holdings LP, China Vanke said.

The total consideration for the acquisition was set at about USD11.6 billion (SGD15.9 billion), China Vanke said. Upon completion of the transaction, Vanke Real Estate (Hong Kong) Co. will spend at most USD2.5 billion (SGD3.4 billion) for a 21.4-percent stake in the limited partnership.

Under the shareholder agreement, Vanke Real Estate (Hong Kong) Co. and its affiliates will hold at least 15 percent of the issued class-A shares of Nesta Investment Holdings GenPar Ltd, a general partner of Nesta Investment Holdings LP.

China Vanke deemed the deal an important measure that will help it improve its logistics real estate business, strengthen its leading position in the market and push forward its CSP (city-supporting service provider) strategy.

China Vanke was established in 1984 and entered the real estate industry in 1988. It has become a leading domestic property developer.

GLP is the world's leading provider of modern logistics facilities. It has a strong presence throughout 117 main cities in China, Japan, the US and Brazil. GLP boasts the largest market share in Japan and Brazil, and the second largest share in the US.