Hong Kong-listed real estate fund manager ESR Group (1821.HK), opens new tab said on Friday Qatar Holding has joined a consortium of investors proposing to take the company private under an updated non-binding proposal.
Qatar Holding, which is owned by the sovereign wealth fund Qatar Investment Authority, is also a shareholder in ESR.
ESR's top shareholder Warburg Pincus and the company's founders have also become members of the consortium, ESR said in a statement.
The company did not disclose the financial details of the updated proposal.
Under the new proposal, shareholders can choose to receive a cash consideration, roll their shares into the future private company, or a combination of both.
The company received an initial proposal, aiming to take the company private, from a consortium led by Starwood Capital Group, Sixth Street Partners and SSW Partners on April 25.
ESR is considering the new proposal and the discussions with the consortium are ongoing.
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