Singapore's GLP to Shortlist At Least 3 Bidder Groups
Global Logistic Properties Ltd. has shortlisted at least three groups in the bidding for the Singapore-based warehouse operator, people with knowledge of the matter said.
GLP invited a management-backed consortium that includes Chinese investment firms Hillhouse Capital Management and Hopu Investment Management to study detailed information on the business, the people said, asking not to be identified as the information is private.
The industrial property developer, which has a market value of $8.8 billion, also granted due diligence to Blackstone Group and a separate Warburg Pincus-led investor group, the people said.
Warburg Pincus is bidding together with its portfolio company E-Shang Redwood, known as ESR, according the people. GLP said in a Singapore exchange filing Monday that a special committee of independent directors was in discussions with “several parties” that will be invited to conduct due diligence.
Purchasing GLP would allow an acquirer to take advantage of a boom in demand for warehouse space from e-commerce companies such as Alibaba Group Holding Ltd. and JD.com Inc.
Link: https://www.google.com.sg/amp/s/www.bloomberg.com/amp/news/articles/2017-02-28/singapore-s-glp-said-to-shortlist-at-least-three-bidder-groups
GLP invited a management-backed consortium that includes Chinese investment firms Hillhouse Capital Management and Hopu Investment Management to study detailed information on the business, the people said, asking not to be identified as the information is private.
The industrial property developer, which has a market value of $8.8 billion, also granted due diligence to Blackstone Group and a separate Warburg Pincus-led investor group, the people said.
Warburg Pincus is bidding together with its portfolio company E-Shang Redwood, known as ESR, according the people. GLP said in a Singapore exchange filing Monday that a special committee of independent directors was in discussions with “several parties” that will be invited to conduct due diligence.
Purchasing GLP would allow an acquirer to take advantage of a boom in demand for warehouse space from e-commerce companies such as Alibaba Group Holding Ltd. and JD.com Inc.
Link: https://www.google.com.sg/amp/s/www.bloomberg.com/amp/news/articles/2017-02-28/singapore-s-glp-said-to-shortlist-at-least-three-bidder-groups
Comments
Post a Comment