Chinese company scores $100 mln from State Oil Fund of Azerbaijan
Asian logistics warehouse operator e-Shang Redwood has raised 100 mln USD investment from the State Oil Fund of Azerbaijan (SOFAZ) to back warehouse development projects in Japan.
According to the company, the investment came one month after a group of Chinese investors, including GF International Investment Management Ltd., Huarong International, China Everbright Ltd. and CMBC International, invested 300 mln USD in e-Shang Redwood.
The company also agreed to buy an 80% indirect stake in the manager of Cambridge Industrial Trust from National Australia Bank and investment firm Oxley Group.
"This investment is consistent with our strategy... Development of state-of-the-art logistics real estate in Japan, which has witnessed increasing levels of demand associated with growth of e-commerce industry particularly in Tokyo and Osaka is such a strategy and complements well our existing real estate portfolio," said Shahmar Movsumov, executive director of SOFAZ.