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30-06-2011, 07:17 PM
Together with its original and equal development partner Guthrie GTS for Jurong Point (JP1 + JP2), LKT has bought out their 50% German partner (TMW GmbH) in JP2 for approx. S$229.0m - based on an agreed value of $670.0m for JP2, equivalent to approx. 2,133 psf (based on JP2's total lettable floor area of 314,123sf).....
http://info.sgx.com/webcoranncatth.nsf/V...F003394EB/$file/Prime_Point.pdf?openelement
Henceforth, LKT and Guthrie will jointly and equally (i.e. 50/50) own the entire Jurong Point. This transaction is earning/EPS accretive and will also raise NAV for both LKT and Guthrie.
http://info.sgx.com/webcoranncatth.nsf/V...F003394EB/$file/Prime_Point.pdf?openelement
Henceforth, LKT and Guthrie will jointly and equally (i.e. 50/50) own the entire Jurong Point. This transaction is earning/EPS accretive and will also raise NAV for both LKT and Guthrie.