Consortium led by Starwood Capital Group and Warburg Pincus in talks to take ESR private.

From Investing.com: 2024-11-28 21:50:43

A consortium led by Starwood Capital Group and Warburg Pincus is in talks to take ESR Group private in a deal valued at over $7 billion. The offer would represent an 18% premium over ESR’s average share price. Warburg Pincus plans to roll over its 14% stake into the private company.

ESR received a proposal in May from a consortium including Starwood Capital Group to go private. The deal expanded to include Warburg Pincus and others. ESR’s shares have fallen due to China’s property market slump. The company manages property-focused funds and investments and went public in Hong Kong in 2019.

ESR, co-founded by executives and Warburg Pincus in Shanghai in 2011, has grown through acquisitions. In June, it received approval to list its logistics real estate firm in China, expecting to raise $336 million. The listing is pending. ($1 = 7.7816 HKD)



Read more at Investing.com: Consortium aims to seal ESR buyout in coming weeks, likely valuing it at over $7 billion, say sources By Reuters