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Mapletree Logistics Trust to Divest China Logistics Parks to New RMB Fund

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Mapletree Logistics Trust's (SGX:M44U) subsidiaries signed conditional sale-and-purchase agreements to divest equity interests in Chinese entities that hold logistics properties in Wuxi, China, to a new renminbi fund led by its sponsor, Mapletree Investments.

The properties include the Mapletree (Wuxi) Logistics Park valued at 180 million yuan with a 45,084 square meters net lettable area and the Mapletree Wuxi New District Logistics Park worth 544 million yuan with a 122,403 square meters net lettable area.

Proceeds from the divestment are expected to be received within six months of the SPA signing.

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