Deutsche Post DHL Group (DPWGn.DE) and United Parcel Services Inc (UPS.N) were among those that entered initial bids to buy South Korea’s fourth-largest logistics company Logen Co Ltd, Korea Economic Daily reported on Friday.
Private equity firms Affinity Equity Partners and CVC Capital Partners also entered initial bids, it reported citing unnamed investment banking sources.
Logen is wholly-owned by Baring Private Equity Asia, which bought it in 2013 for 158 billion won ($136.14 million). JP Morgan is advising Baring on the sale.
Baring, DHL, UPS could not be immediately reached. Affinity and CVC declined comment.
($1 = 1,160.6000 won)
(Reporting by Joyce Lee; Editing by Stephen Coates)