Home / Articles / Amazon warehouse firm GLP bought for $11.7bn

Amazon warehouse firm GLP bought for $11.7bn

A firm that rents warehouses to online retailer including Amazon and Alibaba is to be sold for $11.7bn (£9bn).The buyout of Singapore-based Global Logistic Properties (GLP) by a China-led consortium will be one of Asia’s biggest ever private equity deals.GLP manages 55 million square metres of logistics facilities in the US, China, Japan and Brazil. Its business has boomed with the rise of e-commerce that has fuelled the demand for modern warehouses.GLP has about 4,000 customers and other clients on its books include Chinese retailer JD.com.The warehouse operator makes about two-thirds of its revenue from China where it has a dominant market position.The winning consortium is made up of several Chinese investors including the Bank of China, private equity firm Hopu and Hillhouse Capital Management, whose investors include Alibaba’s Jack Ma. GLP is likely to be delisted from the stock market and run as a private business.
Source: BBC News

About Business Ideas UK

My name is Joel Bissitt. I have been an entrepreneur for 24 years and have run many small businesses across various sectors. For the last 10 years I have worked mainly within online media, franchising and small business start-ups.

Check Also

Another 40 Poundworld stores to close

Forty more Poundworld stores are to close later this month, leading to the loss …

Free Franchise Guide
close slider

Free Franchise Guide

 
Interested in buying a franchise? The our FREE Franchise Guide is a must! The guide contains lots of information to help you decide if franchising is right for you.
 

Yes, I'd like to join the Franchise UK mailing list.