Race to Buy $10 Billion Global Logistic Properties is Underway

The race to buy Global Logistic Properties is now between a Chinese consortium backed by the company's management and a rival group led by Warburg Pincus, sources tell Reuters ahead of a Friday deadline to submit bids for the $10 billion-valued firm.

The acquisition offers a chance for bidders to grab control of Asia's biggest warehouse operator, which counts Amazon among its clients and is benefiting from rising demand for modern logistics facilities, driven by a boom in e-commerce business.

It could rank as one of the biggest private equity backed deals in Asia.

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