The Global Logistic Properties (GLP), renting warehouse space to the world’s largest players in the e-commerce market, will be sold to a Chinese consortium for 11.7 billion dollars.
According to the BBC website, the acquisition of Global Logistic Properties (GLP), based in Singapore, will be the most expensive private equity transaction (medium or long-term financing of private companies which are not yet listed on the stock exchange) in Asia.
The winning consortium, which will take over the GLP for 11.7 billion dollars, consists of a number of Chinese investors, e.g. Bank of Chines, the private quity company Hopu, as well as Hillhouse Capital Management. Hillhouse Capital Management shares belong to Jack Ma, owner of the Alibaba Group, the largest e-commerce website in the world.
GLP is an international logistic centre with warehouses in the USA, Brazil and Japan. Their total area is 55 million m2. The company has approx. 4000 customers, among them are the giants of the e-commerce industry – Amazon, Alibaba and JD.com. According to BBC, the two-thirds of the company revenue comes from the Chinese market. Global Logistic Properties owes its rapid development to the boom on the e-commerce market which increased demand for modern logistics spaces.
Photo: Wikipedia Commons
