ESR Buyout Group Is Said Close to Making $7 Billion Binding Bid

A consortium seeking to buy out Hong Kong-listed ESR Group Ltd. is nearing a HK$13-a-share binding offer for the logistics real estate firm, people familiar with the matter said, a move that would bring the months-long takeover pursuit one step closer to an end.

The consortium, which includes investment firms Starwood Capital Group, Sixth Street Partners, SSW Partners, Warburg Pincus and Qatar Investment Authority, is hammering out details of a formal offer that could be announced as soon as Wednesday, the people said, asking not to be identified because the matter is private. The potential bid ...