P3’s assets were also interesting for the Australian financial group Macquarie, but its chances are lower.
The transaction – evaluated by pundits around EUR 3 billion, could involve the takeover of the logistics operations in eleven European countries – Czech Republic, France, Germany, Italy, the Netherlands, Poland, Romania, Slovakia, Bulgaria, Serbia and Spain.
P3 bought the operations in Romania in 2014, for EUR 120 million, from the Austrian company CA Immo. Now, the assets could be evaluated at more than EUR 200 million, as Pr has meanwhile added almost 90,000 sq. m logistics spaces to the existing 215,000 sq.m.
The investment yield in the field of logistics facilities is between 7.5 and 9 pct. yearly for Euros. Considering the eagerness of the investment funds for money placements, probably such a transaction would involve a yield of 7-7.5 pct.
In the event that the transaction would end with the entry of the Singapore giant GIC, with assets of nearly 400 billion Euros, this could be a turning point for the investments in Central and Eastern Europe, where the giant funds are less present due to smaller size of the market.
P3’s most important clients on the Romanian market are Carrefour, eMag, Altex, Tibbett Logistics, Macromex or Gebrüder Weiss. (source: zf.ro)
