ESR Group boosts stake in LOGOS Property
The former head of LOGOS Southeast Asia sold his 1.3% stake to ESR.
ESR Group has increased its stake in LOGOS Property (LOGOS) by acquiring shares from the remaining founders.
Stephen Hawkins, former head of LOGOS in Southeast Asia, sold his 1.31% stake to ESR for $12.08m (US$9m) on 20 June.
The co-founders, Trent Iliffe and John Marsh, each holding a 6.15% stake in LOGOS, are currently in advanced discussions with ESR regarding the sale of their shares.
As of 2023, LOGOS had assets totalling $802.3m and liabilities of $204m.
Upon completion of the shares acquisition, LOGOS will become an indirect wholly-owned subsidiary of ESR, enabling full integration of ESR and LOGOS businesses across APAC.
This will result in increased market presence, broader capital and tenant relationships, market certainty, and operational synergies.
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