SINGAPORE (Feb 28): Global Logistic Properties Ltd has shortlisted at least three groups in the bidding for the Singapore-based warehouse operator, people with knowledge of the matter said. Warburg Pincus is bidding together with its portfolio company E-Shang Redwood, known as ESR, according the people. Shares of GLP fell 4% to S$2.63 at 1:14pm Tuesday in Singapore. Representatives for Blackstone, GLP, Hillhouse and Warburg Pincus declined to comment, while officials at Hopu didn’t immediately answer phone calls seeking comment. ESR was formed through last year’s merger of E-Shang Cayman Ltd, started in 2011 by Warburg Pincus and two Chinese entrepreneurs, and Redwood Group Asia Pte.

Source: The Edge Markets February 28, 2017 09:45 UTC