SINGAPORE: Singapore sove-reign wealth fund GIC will buy IndCor Properties, one of the biggest industrial landlords in the United States, from parent firm Blackstone for a whopping US$8.1 billion (RM28 billion), the companies said yesterday. Blackstone said in a statement posted on its website the deal was expected to close in the first quarter of next year. It said as a result of the transaction, Chicago-based IndCor would no longer be pursuing an initial public offering. œGIC confirms the investment in IndCor, said a spokesman for the Singapore fund. AFP
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