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Global Logistic Properties agrees to be bought by China group for $11.6 billion

Reuters  |  SINGAPORE 

SINGAPORE (Reuters) - Global Logistic Properties (GLP), Asia's biggest warehouse operator, said it had agreed to be acquired by a Chinese private equity consortium backed by senior GLP executives for roughly S$16 billion ($11.6 billion).The deal is set to be Asia's largest buyout by a private equity group."After an extensive evaluation of all final proposals received, the Special Committee decided on the proposed Scheme, which we believe is compelling and value-enhancing for all shareholders," Seek Ngee Huat, chairman of GLP's Board said in a statement.The Chinese group is offering S$3.38 in ...

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First Published: Fri, July 14 2017. 13:48 IST