CTP agrees $500 million acquisition of logistics assets in Vietnam
CTP said it agreed to acquire all Vietnamese assets of South-East Asia Logistics Partners, owned by Ares Management Corporation, for $500 million. The proposed acquisition includes seven assets with about 50 hectares of leasable area and six development sites with potential for roughly 58 hectares more. CEO Remon Vos said the expansion followed clients' requests to diversify supply chains beyond China. Completion remains subject to regulatory approval and is expected in the coming months, CTP said.