Qatar Investment Authority joins consortium to take HK-listed ESR Group private

HONG Kong-listed real estate fund manager ESR Group said on Friday (Oct 4) Qatar Holding has joined a consortium of investors proposing to take the company private under an updated non-binding proposal.

Qatar Holding, which is owned by the sovereign wealth fund Qatar Investment Authority, is also a shareholder in ESR.

ESR’s top shareholder Warburg Pincus and the company’s founders have also become members of the consortium, ESR said in a statement.

The company did not disclose the financial details of the updated proposal.

Under the new proposal, shareholders can choose to receive a cash consideration, roll their shares into the future private company, or a combination of both.

The company received an initial proposal, aiming to take the company private, from a consortium led by Starwood Capital Group, Sixth Street Partners and SSW Partners on Apr 25.

ESR is considering the new proposal and the discussions with the consortium are ongoing. REUTERS