Hong Kong-listed warehouse developer ESR Group gets takeover bid from US consortium led by Starwood Capital

Starwood Capital Group, one of the largest real estate investors worldwide, is part of a consortium of shareholders proposing to take Asian warehouse developer ESR Group private, according to a filing to the Hong Kong stock exchange.

The consortium comprising Starwood and two other US firms, SSW Partners, and Sixth Street, owns 15.7 per cent of ESR. It put forward its “non-binding and conditional proposals” to the property investment fund manager on April 25 for “a possible privatisation of the company”, that could result in a delisting if it went ahead.