Reuters says GLP to get bids from at least 3 prospective buyers next week

HONG KONG/SINGAPORE (June 23): A Chinese consortium and two private equity firms are likely to submit bids next week to buy Singapore-listed warehouse operator Global Logistics Properties (GLP), people with direct knowledge of the matter said on Friday.

The interest in GLP, backed by Singapore sovereign wealth fund GIC, comes as the firm has built up a dominant market share in China, where an e-commerce boom is fuelling demand for modern warehousing and logistics.

The Chinese consortium is led by private equity firms Hopu Investment Management and Hillhouse Capital Group and has the support of GLP Chief Executive Ming Mei, the people said. The other bidders are US-based private equity firm Warburg Pincus LLC and Asian investment firm RRJ Capital, they said.

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