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.
The proposed sale of Singapore-based warehouse operator Global Logistic Properties (GLP) has hit a snag due to concerns about the future control 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 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.