ESR Shareholders Approve $7 Billion Buyout By Investor Group

Shareholders of ESR Group Ltd. approved a buyout deal by a consortium of investors valuing the Hong Kong-listed warehouse operator at about $7 billion via a scheme of arrangement.

ESR will be acquired by a group including investment firms Starwood Capital Group, Sixth Street Partners, SSW Partners, Warburg Pincus, Qatar Investment Authority and ESR’s founders, according to a statement on Friday. In December the buyer consortium proposed to acquire all ESR shares for HK$13 each and take the company private.