Singapore warehouse giant 'picks Chinese bidder' in Asia's biggest buyout

© Mingwei Chan

If you needed any proof that warehousing capacity is currently at a premium, look no further than what is likely to be the largest-ever private equity buyout of an Asian company, for $10bn.

Singapore warehouse operator Global Logistic Properties has found a Chinese consortium of bidders to edge out rival Warburg Pincus. The investor group is headed by GLP’s chief executive, leading to complaints that the group has an unfair advantage. Nevertheless, a binding offer has been made, in what was ...