Deals
Fibra Prologis Leads Battle to Be Mexico Nearshoring King
- Mexican real estate firm poised to take over Terrafina
- Blackstone pulled out of contest ahead of Friday deadline
The Prologis Park Grande in Tepotzotlan, Mexico.
Photographer: Mauricio Palos/BloombergThis article is for subscribers only.
Prologis Property Mexico is emerging as the top contender to take over one of Mexico’s largest industrial real estate companies, bringing an end to a heated bidding war for an asset prized for its potential in the nearshoring boom.
The Mexican real estate investment trust, which is backed by US giant Prologis Inc., said Thursday that a majority of shareholders support its offer for TF Administradora Industrial, or Terrafina. Remaining shareholders have until midnight in Mexico (2 a.m. ET on Saturday) to join the deal.