CIC acquires Logicor Oy

Updated 2017-09-08 10:00:35 Global Times/Agencies

China Investment Corp (CIC) recently acquired 100 percent of Finland developer Logicor Oy from Blackstone for 12.25 billion euros (.64 billion), one of the largest deals in the European property sector, domestic news website people.com.cn reported on Thursday.

According to a statement on the website of Blackstone, Logicor owns and operates a wide range of high-quality logistics assets in 17 countries, with more than 70 percent concentrated in the UK, Germany, France and Southern Europe.

Established in September 2007, CIC is an investment company with registered capital of 0 billion, all of it from China's foreign reserves, said an introduction on the firm's website.

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