Chinese state-backed Guangdong Holdings weighs buying major stake in GLP China, Bloomberg News reports

Reuters04-30

April 30 (Reuters) - Chinese state-owned investment company Guangdong Holdings is considering making a potential bid for the China operations of logistics firm GLP Pte, Bloomberg News reported on Tuesday citing people familiar with the matter.

A potential deal could value the China unit of GLP at about 50 billion yuan ($6.90 billion), the report added, citing one person.

Guangdong Holdings is also exploring deal options for China Vanke Co's 21% stake in Singapore-based GLP, the report said.

Guangdong Holdings could not be reached while GLP did not immediately respond to a Reuters' request for a comment. China Vanke declined to comment on the report.

($1 = 7.2436 Chinese yuan renminbi)

(Reporting by Devika Nair in Bengaluru; Editing by Eileen Soreng)

((Devika.MadhusudhananNair@thomsonreuters.com;))

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