OMERS has acquired an additional 7% stake Hong Kong-listed ESR Cayman for around HK$3.8bn (€430m).
The Canadian pension fund bought the parcel of some 213m shares from an associated entity of Warburg Pincus, the original and ongoing backer of the Asia-Pacific logistics group.
IPE Real Assets understands that the transaction was done at a 2.4% discount to Monday’s closing price of HK$18.30.
In a statement, ESR Cayman said Warburg Pincus remained “a significant shareholder” after the sale. It said Warburg Pincus had other equity interests in ESR Cayman and had retained shares, representing an approximate 9.1% holding of the company, now capitalised at HK$57.9bn.
OMERS was the cornerstone investor in ESR Cayman when it listed in October last year in its second attempt to float.
OMERS took up about 9% in the company’s US$1.45bn (€1.27bn) IPO, at a total cost of US$585m.
At the time, ESR said the cornerstone placing was part of the OMERS strategy to continue investing in a growing region that offered asset classes in which it (ESR) was active.
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