SINGAPORE (Dec 2): Global Logistic Properties (GLP) has acknowledged that it is undertaking strategic review following a request from its largest shareholder, GIC Real Estate, and has appointed JPMorgan as a financial adviser to assist in the review.

JPMorgan, as part of the review, has been making preliminary approaches to various parties to evaluate the viability of the business, states GLP.

GLP was responding to a Bloomberg report which said the owner of modern logistics properties appointed JPMorgan for the review after attracting takeover interest from a consortium backed by China’s sovereign fund.

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