Global Logistics Properties explores strategic options on GIC's request

It hires JP Morgan as its financial adviser.

Global Logistics Properties (GLP) announced that is undertaking an independent strategic review of options available for its business in line with its commitment to enhance shareholder value, following a request received from its largest shareholder, GIC Real Estate Private Limited.

In an SGX filing, GLP said it has constituted a special committee, consisting of four independent directors, to oversee the strategic review. The Company has also appointed J.P. Morgan (JPMorgan) Limited as its financial adviser to assist on the strategic review.

As part of the strategic review, GLP, through JPMorgan, is in the process of making preliminary approaches to various parties to evaluate the viability of options available for its business.

The company clarifies though that it has not entered into any definitive transaction with any party yet including the investor group mentioned in the article in Bloomberg News.

"There is no assurance that any transaction will materialise from the strategic review and the Company will make an appropriate announcement in the event of any material developments," it said.