Mapletree Logistics Trust (SGX:M44U) signed a memorandum of understanding to acquire Mapletree Wuxi Logistics Park from Mapletree Investments Pte Ltd. for approximately CNY 120 million on November 19, 2012. The acquisition will be funded by debt. An acquisition fee (being 1% of the purchase price) will be paid in Mapletree Logistics Trust units which shall not be sold within one year from their date of issuance. An audit committee of Mapletree Logistics Trust Management Ltd., manager of Mapletree Logistics Trust, reviewed the transaction and considers the acquisition of Mapletree Wuxi Logistics Park is on normal commercial terms and would not be prejudicial to the interests of Mapletree Logistics Trust and its minority unitholders in respect of the interested party nature of the transaction. The deal is subject to the execution of a formal sale and purchase agreement and approval of Mapletree Logistics Trust's unitholders is not required. The deal is expected to complete by March 2013.

The acquisition is expected to generate an initial net property income yield of approximately 8%, higher than the implied property yield of 6% for MLT's existing China portfolio. It is also expected to be accretive at the distribution level. HSBC Institutional Trust Services (Singapore) Limited acted as a as trustee of Mapletree Logistics Trust. Vigers Appraisal and Consulting Co. Ltd and Savills Property Services (Shanghai) Co. Ltd acted as valuers in the deal.

Mapletree Logistics Trust (SGX:M44U) completed the acquisition of Mapletree Wuxi Logistics Park from Mapletree Investments Pte Ltd. on January 11, 2013.