Deals
Warburg to Eye Bigger Asia Logistics IPO in GLP Pursuit
- Deal for GLP would help boost presence in second-tier cities
- Warburg’s logistics business run by former Prologis executives
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Warburg Pincus, one of several bidders pursuing Global Logistic Properties Ltd., is weighing a merger of the Singapore warehouse owner with its own logistics business E-Shang Redwood Ltd. before a planned initial public offering, people with knowledge of the matter said.
The U.S. buyout firm is bidding together with ESR, which is providing equity in the consortium, according to the people, who asked not to be identified because the talks are private. If Warburg Pincus succeeds in acquiring GLP, which has a market value of $9.2 billion, it will consider combining the two companies ahead of any listing in mainland China or Hong Kong, the people said.