GLP's independent adviser finds privatisation bid 'fair and reasonable'

Singapore

THE independent financial adviser for Global Logistic Properties' (GLP) independent directors has deemed a proposed privatisation to be fair and reasonable, according to scheme documents despatched on Friday.

Evercore Asia, which was appointed after Singapore's Securities Industry Countil found the previous appointment of ANZ to be non-independent, said that it considered, among other things, that the S$3.38 per share is a premium over historical prices and over a sum-of-the-parts valuation of the business.