GPT Group May Announce Property Asset Split Soon, Review Says
By Jacob Greber
July 30 (Bloomberg) -- GPT Group may announce plans to split some assets from a A$6 billion ($4.9 billion) international property joint venture into a separate unlisted company, the Australian Financial Review said.
The move, which could be announced as early as today, will in effect split the property trust group in two, the Review said, without saying where it got the information.
One part of GPT Group will focus on Australian office towers and shopping centers, while the unlisted company will consist of the European assets owned by the joint venture set up with failed investment bank Babcock & Brown Ltd., the newspaper said.
To contact the reporter for this story: Jacob Greber in Sydney at [email protected]
GPT Price at posting:
$2.75 Sentiment: LT Buy Disclosure: Held
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