The recent sale of Singapore - based warehouse operator Global Logistic Logistics ( GLP ) has hit a snag due to concerns about the future state of its Chinese assets . Text size The long-running saga of Global Logistic Properties’ ( Only two bidders have submitted offers for the firm . One bidder , Warburg Pincus , is worried about a 2014 deal that sold around a third of GLP 's China business to a group including CEO Ming Mei and Beijing 's Hopu Investment Management , which effectively allows this group a veto over certain areas of business . Furthermore , the other bidder is another group fronted by Mei and Hopu . Investors are concerned that details relating to the sale of the stake were not fully disclosed .
The recent sale of Singapore - based warehouse operator Global Logistic Logistics ( GLP ) has hit a snag due to concerns about the future state of its Chinese assets . Only two bidders have submitted offers for the firm . One bidder , Warburg Pincus , is worried about a 2014 deal that sold around a third of GLP 's China business to a group including CEO Ming Mei and Beijing 's Hopu Investment Management , which effectively allows this group a veto over certain areas of business . Furthermore , the other bidder is another group fronted by Mei and Hopu . Investors are concerned that details relating to the sale of the stake were not fully disclosed .