GLP’s potential privatisation could be ‘strategic move’ for further asset control

SINGAPORE (Dec 2): UOB Kay Hian is maintaining its “buy” recommendation on Global Logistic Properties (GLP) with an unchanged target price of $2.40.

This comes after the property owner on Thursday evening announced its appointment of JPMorgan as a financial adviser to undertake a strategic review which was prompted by its group’s largest shareholder GIC Real estate.

To recap, Bloomberg last month said GLP attracted takeover interest from a consortium that includes China’s sovereign wealth fund, China Investment Corporation (CIC).

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