Lineage Logistics has expanded its presence in Vietnam, while SIA Engineering Company has completed the acquisition of a 49% stake in Malaysia’s Pos Aviation.
Lineage Logistics expands footprint in Vietnam
Global real estate investment trust (REIT) firm Lineage Logistics on Friday announced a joint venture with Vietnamese cold-storage warehouse operator SK Logistics.
Lineage, which invests in temperature-controlled industrial facilities and provides integrated solutions, did not disclose the financial terms of its transaction with SK Logistics.
In a statement, Lineage said that SK Logistics’ two cold storage warehouses, spanning almost 400,000 square feet, represent a strong increase in capacity for the REIT company in northern Vietnam.
Lineage, a subsidiary of US-based investment firm Bay Groves, has over 400 facilities across countries in North America, Europe, and Asia-Pacific.
SIA Engineering completes stake acquisition in Pos Aviation
Singapore Airlines’ SIA Engineering Company (SIAEC) has completed the acquisition of a 49% share capital in Pos Aviation Sdn Bhd, an independent ground handler in Malaysia, for RM4 million (US 872,125).
The deal was initially announced in 2020, with the indicative consideration then being RM10.09 million.
SIAEC is a major provider of aircraft maintenance, repair, and overhaul services in Asia Pacific.
Meanwhile, Pos Aviation, a subsidiary of postal service company Pos Malaysia Bhd, has a presence in nine Malaysian international airports.
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