GLP receives 'firm proposals' from shortlisted bidders
Singapore
GLOBAL Logistic Properties Ltd said on Monday that it had received "firm proposals" from shortlisted bidders, days after sources told Reuters that suitors had been narrowed to a management-backed Chinese consortium and a group led by Warburg Pincus.
The US$10 billion-valued firm is Asia's biggest warehouse operator, with clients including Amazon.com Inc and JD.com Inc, and is benefiting from rising demand for modern logistics facilities driven by a boom in e-commerce.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Far East Hospitality Trust Q1 net property income rises 6% to S$25.1 million
Boeing gets a welcome respite with US$10 billion bond offering
Hong Kong vies with US in Bitcoin ETF market after crypto’s revival
Chevron CEO expects ExxonMobil arbitration resolved in coming months
Paramount replaces CEO with trio as it talks merger with Skydance
MicroStrategy posts loss on impairment charge, revenue declines