Agri logistics player China Co-op Group inks strategic JVs with GLP

China Co-op Group has signed two joint venture agreements with global logistics giant GLP.

In a multi-level strategic partnership, China Co-op Group, the country’s largest agricultural product logistics service provider, has inked two joint venture agreements with global logistics giant GLP.

According to the agreement, both parties will set up a private equity vehicle through a joint venture fund management company. The vehicle will seek to invest in transportation and logistics hubs in China’s first- and second-tier cities.

Meanwhile, the joint venture logistics management company will provide development and operation management services for the portfolio projects.

Financial terms of the partnership remain undisclosed.

China Co-op Group, founded in 2010, has 130 billion yuan ($18 billion) in assets under management. Its scope of operations cover the entire agri business chain from farm products to agrichemicals, logistics, wholesale, and international trade. 

China Co-op has built 4,000 warehouses and logistics zones cross the country. 

China Co-op chairman Hou Shunli said, in the statement, the partnership will accelerate the development of the agricultural product logistics industry.

In October, GLP announced the setting up of strategic investment partnership with China Merchants Group. Per the terms of the partnership, GLP will acquire 50 per cent stake in China Merchants Capital, CMG’s private equity investment vehicle.

GLP is a leading global investment manager and business builder in real estate, logistics, infrastructure, finance and related technologies. It has a strong global presence with operations, investments and partnerships across Brazil, China, Europe, India, Japan and the U.S.

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.