Schenker, what Schenker? DSV boss talks up options – yes, Sir!
New corporate structure also serves ‘potential M&A that may come up’. May? Potential?
© Mingwei Chan
By Alex Lennane
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 described, perhaps with some understatement, as a ‘fast-growing sector’.
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