ProLogis and AMB to merge
Less than a week after confirming that the two companies were in discussions, the "possible merger" of ProLogis and AMB is a done deal. AMB Property and ProLogis have announced a definitive agreement to merge the two companies, which will create a global owner, operator and developer of industrial real estate with a total market capitalisation of more than $24 billion, and gross assets owned and managed of approximately $46 billion. The combined portfolio encompasses approximately 600 million square feet of modern distribution facilities located in key gateway markets and logistics corridors in 22 countries. Both companies have substantial portfolios in North America, Western Europe and Japan. ProLogis is well-established in the UK and Central and Eastern Europe, while AMB has a significant presence in China and Brazil. Subject to customary closing conditions, including shareholder approval, the transaction is expected to close during the second quarter of 2011. On completion of the merger, the company will be named ProLogis, with its corporate HQ in San Francisco and operations HQ in Denver. Quelle: eyefortransport |