Chinese consortium, Warburg in fray to buy $10b-valued Singapore's GLP

Chinese consortium, Warburg in fray to buy $10b-valued Singapore's GLP

Photo: GLP website

The race to buy Global Logistic Properties is now between a Chinese consortium backed by the company’s management and a rival group led by Warburg Pincus, sources said ahead of a Friday deadline to submit bids for the $10 billion-valued firm.

The acquisition offers a chance for bidders to grab control of Asia’s biggest warehouse operator which counts Amazon among its clients and is benefiting from rising demand for modern logistics facilities, driven by a boom in e-commerce business.

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