The deal size is about $375 million in cash and stock and includes the proposed sale of certain non-core assets, GLP said in a statement.
Airport City is the sole developer of air-cargo handling and bonded logistics facility for Beijing Capital International Airport.
GLP, listed late last year in a $3 billion IPO, had said in its prospectus it had reached a framework agreement to buy 53 percent of an unnamed Chinese company. (Reuters)