SINGAPORE (July 3): Warehouse operator Global Logistic Properties said on Monday it had received "firm proposals" from shortlisted bidders. It provided no further details.

Sources familiar with the matter had said on Friday that the US$10 billion ($13.8 billion) race had narrowed to two suitors.

These are a group led by Chinese private equity firms Hopu Investment Management and Hillhouse Capital Group, with the support of GLP CEO Ming Mei, and a rival consortium headed by Warburg Pincus and its logistics partner e-Shang Redwood.

According to Reuters report last Friday, the race for GLP has narrowed to between a group led by Chinese private equity firms Hopu Investment Management and Hillhouse Capital Group, with the support of GLP CEO Ming Mei, and a rival consortium headed by Warburg Pincus and its logistics partner e-Shang Redwood.
According to Reuters report last Friday, the race for GLP has narrowed to between a group led by Chinese private equity firms Hopu Investment Management and Hillhouse Capital Group, with the support of GLP CEO Ming Mei, and a rival consortium headed by Warburg Pincus and its logistics partner e-Shang Redwood.

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