China Logistics Property Holdings Co. Ltd. (SEHK:1589)’s two biggest shareholders have kicked off a plan to sell their stakes in a move that could trigger a takeover offer of the logistics operator, according to a sales document and people familiar with the matter. RRJ Capital and Chairman Li Shifa aim to sell their combined 50% stake in the company, valuing it at about $2 billion, or a more than 20% premium to the latest price, said the people, asking not be identified as the matter is private. The first non-binding bid is due around mid-January, the people said. The potential transaction is likely to lead to a general offer for the entire company under Hong Kong’s takeover code. Some other institutional shareholders may also participate in the sale, according to the teaser document obtained by Bloomberg News. The latest plan comes after RRJ decided not to proceed with an earlier sales discussion with a potential buyer, said the people. Representatives at RRJ and China Logistics declined to comment.