Vanke Said in Talks to Join China Consortium in GLP Bidding
- China homebuilder could join management-backed investor group
- Vanke has been expanding investments in warehouse property
Construction continues on the site of China Vanke Co.'s 'Fun City' apartment complex in Beijing, China.
Photographer: Keith Bedford/BloombergChina Vanke Co., a logistics partner of Blackstone Group LP in China, is in talks to join a management-backed consortium bidding for warehouse operator Global Logistic Properties Ltd., people with knowledge of the matter said.
The Shenzhen-based homebuilder has discussed becoming one of about six major investors in the Chinese bidding group backed by Hopu Investment Management, Hillhouse Capital Management and GLP’s chief executive officer, according to one of the people. The exact number of investors and the stakes they will hold in the consortium haven’t been set yet, the person said, asking not to be identified because the information is private.