Chinese State-Backed Firm Weighs Buying Major Stake in GLP China

Chinese state-owned investment company Guangdong Holdings Ltd. is considering making a potential bid for the China operations of logistics firm GLP Pte, people familiar with the matter said.

The Guangdong local government-backed company is working with advisers to conduct due diligence on GLP’s China assets as it studies possibilities including buying a controlling stake in GLP China Holdings Ltd., the people said, asking not to be identified discussing a private matter.

A potential deal could value the China unit at about 50 billion yuan ($6.9 billion), one of the people said. The unit reported net asset value of ...