Global Logistic Properties (GLP), which was bought by a Chinese consortium for S$16 billion, said on Monday it received SGX approval to delist the company by April 14, 2018.
The offeror is Nesta Investment Holdings, which is owned by a Chinese consortium comprising Hopu, Hillhouse Capital, SMG, Bank of China Group Investment and Vanke Group.
Both the companies intend to dispatch the scheme document by December 1. If the scheme is successful, shareholders will receive S$3.38 in cash per share and GLP will be delisted from the SGX.
GLP, which has a $41 billion property portfolio, provides facilities in China, Japan, U.S. and Brazil. Its customers include Adidas, Coca-Cola, Loreal among others.
Shares in Global Logistic Properties were unchanged at S$3.3 on the Singapore Exchange. The stock has gained 50 percent so far this year.