The proposed sale of Beijing -based warehouse operator Global Logistic Properties ( GLP ) has hit a snag due to concerns about the future control of its Chinese assets. around a third bidders have submitted offers for the firm. One bidder, Warburg Pincus , is worried about a 2014 deal that sold around a third of Hopu Investment Management 's China business to a group including CEO Ming Mei and Beijing 's Warburg Pincus , which effectively allows this group a veto over certain areas of GLP . Furthermore, the other bidder is another group fronted by Mei and Hopu . The stock’s returned 55% over the last 12 months, versus 11% for the Lion City benchmark. Investors are concerned that terms relating to the sale of the stake were not fully disclosed.
The proposed sale of Beijing -based warehouse operator Global Logistic Properties ( GLP ) has hit a snag due to concerns about the future control of its Chinese assets. around a third bidders have submitted offers for the firm. One bidder, Warburg Pincus , is worried about a 2014 deal that sold around a third of Hopu Investment Management 's China business to a group including CEO Ming Mei and Beijing 's Warburg Pincus , which effectively allows this group a veto over certain areas of GLP . Furthermore, the other bidder is another group fronted by Mei and Hopu . Investors are concerned that terms relating to the sale of the stake were not fully disclosed.