GLP Pte has made about $7 billion worth of assets in China available for state-backed China Logistics Group Ltd. to choose from as due diligence for a potential deal continues, according to people familiar with the matter.
The assets under review come from multiple funds and projects, said the people, who asked not to be identified as the talks are private. Bloomberg News reported in July that a deal could see China Logistics Group take a controlling stake in a portfolio of GLP’s assets in the world’s second largest economy.
No final decision has been made on which assets will be included in the portfolio and hence the ultimate size of the transaction, the people said. A representative for GLP declined to comment, while a representative for China Logistics Group didn’t respond to requests for comment.
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