Big China investors take stakes in Global Logistic Properties and its China subsidiary
Published on Feb 18, 2014 10:26 PM
A GROUP of big-name China investors will invest up to US$2.5 billion in Global Logistic Properties (GLP), the warehouse operator said on Tuesday.
GLP could sell about one third of its China subsidiary in the transaction, and the new investors will also take a small stake in the parent company.
The firm said it will benefit from the "strategic land holdings, customer relationships and increased business opportunities" with the investors while the cash injection will help it "capitalise on (the) huge China opportunity".
The investors - dubbed by GLP as "strategic partners" - include a wholly-owned subsidiary of Bank of China and HOPU Funds. HOPU Funds is backed by large state-owned companies and institutional investors in China.
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