SINGAPORE, June 8 (Reuters) - Singapore-listed warehouse operator Global Logistic Properties (GLP) said on Thursday short-listed bidders for the firm should submit their proposals by end-June.
Reuters reported in February, citing sources familiar with the process, that private equity firms Warburg Pincus, Blackstone Group LP and Hopu Investment were among the bidders short-listed to present a potential offer for the firm.
GLP, backed by sovereign wealth fund GIC Pte Ltd, said no binding proposals have been received yet and the firm’s special committee will conduct a review of all terms of the proposals prior to making a recommendation.
GLP’s customers include Amazon and JD.Com. It operates industrial properties worldwide worth about $40 billion and earns two-thirds of its revenue from China.
The company, which has a market value of $10.3 billion, closed up 0.3 percent at S$2.94 on Thursday. (Reporting by Miyoung Kim; editing by Jason Neely)