Deals
Blackstone Said to Vie With Warburg, Chinese Group for GLP
- Buyout firms compete for Singapore-based warehouse operator
- Logistics properties benefiting from booming e-commerce demand
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Blackstone Group LP is considering an offer for Global Logistic Properties Ltd., potentially pitting it against Warburg Pincus and a separate Chinese group in the bidding for the $8.6 billion warehouse operator, people with knowledge of the matter said.
Warburg Pincus is forming a consortium to bid for the Singapore-based company and has been speaking with banks and potential bidding partners, according to the people. An investor group including Chinese buyout firm Hopu Investment Management also remains keen to pursue a takeover of GLP and is preparing an offer, the people said, asking not to be identified because the information is private.