GLP bidders urged to submit proposals

Deadline for the proposals is on June 30.

Shortlisted bidders for Global Logistic Properties will have to submit their proposals on or before June 30.

The group formed a Special Committee that will thoroughly evaluate the proposals in consultation with the Company’s external advisers.

"The Company reiterates that no binding proposals have been received to date, and wishes to emphasize that any firm proposals, if and when received, may remain non-binding, may be subject to relevant regulatory approvals or other conditions and may not be offers that are capable of acceptance," the group said.

It added, "There is no certainty that any proposals will be received or that any definitive transaction will materialize from, or any offer will be made as a result of, any proposals received or the Strategic Review, and there also remains no certainty as to the terms of a transaction (if any). The Company will make an appropriate announcement in the event of any material developments."