Reuters logo
REFILE-Bid target Global Logistic properties selects Chinese group for final talks - sources
July 13, 2017 / 3:07 AM / 5 months ago

REFILE-Bid target Global Logistic properties selects Chinese group for final talks - sources

(Corrects day of the week in first paragraph.)

SINGAPORE, July 13 (Reuters) - Global Logistic Properties , the subject of a bidding war, has decided to hold final talks with a Chinese group this week, two sources familiar with the matter said on Thursday.

GLP, a warehouse operator valued at S$12.6 billion ($9.2 billion), said this month it had received “firm proposals” from shortlisted bidders, following months of negotiations with parties.

GLP and the Chinese consortium declined comment. Trade in GLP’s shares was halted earlier pending an announcement.

The sources told Reuters that GLP aimed to thrash out a deal with a consortium led by Chinese private equity firms Hopu Investment Management and Hillhouse Capital Group. The consortium is backed by senior executives of GLP.

The sources declined to be identified as they were not authorised to speak about the deal.

A rival group headed by private equity firm Warburg Pincus and its logistics partner e-Shang Redwood, was also in the race to acquire GLP, sources have said. (Reporting by Anshuman Daga; Additional reporting by Elzio Barreto; Editing by Edwina Gibbs)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below