Global Logistic Properties is seeking potential buyers as part of its independent strategic review, the company said in a statement to the Singapore Stock Exchange, confirming media reports from the Wall Street Journal and Bloomberg.
Global Logistic Properties (GLP) has confirmed it is seeking potential buyers as part of its independent strategic review, the company said in a statement to the Singapore Stock Exchange.
The statement comes after media reports from the Wall Street Journal and Bloomberg quoting anonymous sources speculated about a possible sale of the Singapore-based logistics property development firm.
GLP noted that a sale is only one of several options it could pursue as a result of the strategic review, and that no agreement has been reached. The company did not name the parties with which it is currently in discussions.
The second-largest operator of warehouses in the United States, GLP has a market capitalization of $7.5 billion, according to WSJ.
The acquisitive company last month secured a strategic land parcel for long-term logistics facilities development in Tokyo, to be developed in phases, and in September, agreed to purchase a portfolio of warehousing and logistics properties in the U.S. valued at $1.1 billion.
GLP confirms preliminary sale talks
