GLP seeks final proposals from bidders

Singapore

GLOBAL Logistic Properties Limited (GLP) has invited short-listed bidders for the company to submit their firm proposals by June 30 for final evaluation. The special committee will evaluate the proposals in consultation with the group's external advisers.

"As part of this evaluation, the special committee will conduct an in-depth review of all terms of the proposals, prior to making a recommendation which maximises value for all shareholders," GLP said on Thursday in an update of its strategic review. In December 2016, GLP said it had formed a special committee, consisting of four independent directors, to oversee the strategic review of its options. It also appointed JP Morgan (SEA) as its financial adviser in the strategic review.