China Vanke seeks to sell 21.4% stake in GLP Pte for cash amid debt crisis; no agreements reached yet.
China Vanke, a state-backed developer, is seeking to sell its 21.4% stake in logistics firm GLP Pte to raise cash amid a debt crisis. Vanke acquired the stake for about $2.5 billion in 2018 and has reportedly held discussions with state-owned investment company Guangdong Holdings Ltd. and a Tianjin-based state-owned firm about exiting the investment. No agreements have been reached yet.
April 17, 2024
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