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According to reports on May 9th, GLP stated in a conference call on May 5th that the company had signed a memorandum of understanding with an investor regarding the sale of some of its assets in China, and the possible deal is currently in the due diligence stage.

The reason for selling the assets is to reduce GLP's leverage and buy back debt, according to attendees.

GLP is a leading global business builder, owner, developer and operator of logistics real estate, data centers, renewable energy and related technologies.

GLP China operates in 70 markets in China, investing in and managing over 450 logistics warehouses, manufacturing and R&D facilities, data centers, and new energy infrastructure.

GLP China's financial report for 2022 shows that the company achieved operating revenue of $1.205 billion, a year-on-year decrease of 4.29%.

The net profit attributable to shareholders of the company was $1.29 billion, a year-on-year decrease of 8.83% and the company's cash and cash equivalents at the end of 2022 within the scope of the consolidated cash flow statement was $2.07 billion, a year-on-year increase of 114.95%. As of December 31, 2022, the company's total liabilities were $20.259 billion, with a debt ratio of 52.67%.

As an alternative asset management firm, GLP Capital Partners (GCP) has a total asset management scale of $72 billion in China, and has raised and operated multiple private equity funds specializing in China both domestically and overseas.