02 Jun '11, 7am

CacheLog marks foray into China with purchase of chemical warehouse facility

Cache is acquiring a chemical warehouse facility in Shanghai from CWT Limited (“CWT”) via an acquisition and leaseback arrangement. This acquisition marks Cache’s entry into China. The property is located in Jinshan District within the successful Shanghai Chemical Industrial Park (“SCIP”), one of the largest petrochemical bases in Asia. Cache’s newly purchased facility is sited on a land area of 33,506 square metres, with a built-up gross floor area of about 13,547 square metres. CWT is the Sponsor of Cache and the CWT properties in Asia-Pacific fall under the right of first refusal granted to Cache at the time of the IPO in April 2010. This transaction marks the first successful acquisition of a CWT asset since the IPO. The consideration paid for the property is RMB 71.0 million …

Full article: http://thefinance.sg/2011/06/02/cachelog-marks-foray-into...

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