Summary
This Form 8-K filing by Prologis, Inc. on December 20, 2012, announces the formation of a significant European logistics joint venture, Prologis European Logistics Partners Sàrl. This venture is established in partnership with Norges Bank Investment Management, the manager of the Norwegian Government Pension Fund Global. This strategic alliance aims to expand Prologis's footprint and operational capabilities within the European logistics market. Furthermore, as part of this transaction, Prologis issued a warrant to Norges Bank Investment Management, granting them the right to acquire six million shares of Prologis common stock at an exercise price of $35.64 per share, with an expiration period of three years. This move signifies a substantial commitment from a major sovereign wealth fund, potentially enhancing Prologis's financial flexibility and market confidence.
Key Highlights
- 1Prologis formed a new Euro-denominated joint venture, Prologis European Logistics Partners Sàrl, focused on European logistics.
- 2The joint venture partner is Norges Bank Investment Management, the manager of the Norwegian Government Pension Fund Global.
- 3As part of the agreement, Prologis issued a warrant to Norges Bank Investment Management.
- 4The warrant allows the purchase of six million shares of Prologis common stock.
- 5The exercise price for the warrant is $35.64 per share.
- 6The warrant has an expiration date three years from its issuance date (December 20, 2012).
- 7The issuance of the warrant was conducted under a prospectus supplement filed with the SEC.