Why Global Logistic Properties May Be Taken Private
With more supply chain efficiencies, fast-growth in e-commerce throughout Asia, the availability of long-term patient capital (sovereign funds and pensions), and significant consolidation by third-party logistics companies, the market for modern logistics is sure to be more concentrated. A merger between GLP and e-Shang Redwood Group would create an Asian warehouse behemoth rivaling competitors such as San Francisco-based Prologis. Singapore’s GIC Private Limited has amassed quite a bit of exposure in the logistics space, especially in Asia. Earlier, the Singaporean sovereign fund giant hired J.P. Morgan Chase & Co. to conduct a strategic review of Singapore-based Global Logistic Properties Ltd. (GLP), where GIC holds a 37% ownership stake.
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