Advance Logistics Investment Corporation (JP:3493) has released an update.
Mitsui Fudosan Logistics REIT Management Co., Ltd. and ITOCHU REIT Management Co., Ltd. have agreed on an absorption-type company split, set to take effect on November 1, 2024, coinciding with a merger between Mitsui Fudosan Logistics Park Inc. and Advance Logistics Investment Corporation. The split will see the asset management of logistics facilities transferred from ITOCHU to Mitsui, with ITOCHU acquiring a 23% stake in Mitsui as consideration. This move aims to align asset management post-merger, and appropriate measures will be discussed to manage potential conflicts of interest due to overlapping investment targets.
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