US$11.6 billion purchase of Singapore’s GLP would be SE Asia’s biggest ever
Chairman says Chinese buyer's offer is "compelling and value-enhancing"
One of the world’s largest warehousing companies, Singapore’s Global Logistic Properties, has just received a US$11.6 billion purchase offer from a Chinese-backed consortium.
The deal would represent the largest ever recorded in Southeast Asia, topping a 2008 telecoms deal in Malaysia worth US$7.9 billion, according to the Wall Street Journal.
GLP Chairman Seek Ngee Huat said in a statement that the company chose the Chinese group because it believed the offer was “compelling and value-enhancing for all shareholders.”