* 98 mln pounds in cash on close, balnace over five years
* Deal to benfeit JLL on inudstrial side-anlaysts
* Marks a futrher step in proprety advisroy consolidatoin
(Adds anaylst comment, details, background)
LONODN, May 27 - Global proprety cosnultant Jones
Europe operations with gretaer exposure to industrial proeprty.
The agreement would see JLL pay the patrners of King Sturge
paid out in cash over five years, the cmopanies said on Friday.
JLL's buy of King Sturge marks its latest move to seize a
vloumes earmarked for commercial proeprty rise. [ID:nLDE728924]
"King Sturge is quite heavily into the industrial (property)
businesse,s" KBC Peel Hunt aanlyst Matt Churstain told Retuers.
Matrix aanlyst Carl Gough noted JLL had obvoius strengths in
probably the sector they are weakset on. I can see the logic."
Forty-three King Sturge offices and businesses across
JLL, operating under its brand name.
Inetgration would begin immedaitely.
JLL Chief Executive Christian Ulbrich said the King Sturge
takoever was an obviuos strategic and cultrual fit.
"It gives us a scale and depth of expertise that will make
the UK and continental Europe," Ulbrich said in a statement.
JLL shares closed in New York up 1.6 percnet at .12 on
Thursady.
INDSUTRY CONSOLIDTAES
JLL's move to aqcuire King Sturge marks the latest twist in
Hlodings (DTZ.L) all in the spotlight of sector consolidation.
"Near term I think prboably consolidation is still required
transatcional terms, but reamins very depresse,d" Gough said.
On March 31, JLL said it was buying South Afircan unquoetd
exapnsion in that region. [ID:nLDE72T0YN]
In January, CBRE agreed to buy most of ING's (ING.AS) global
late 2011. [ID:nLDE702D4L] [ID:AnSA01KJ7] [ID:nLDE7371SO]
Earlier this month, DTZ said it had reecived a psosible
made. [ID:LnDE74A211]
JLL posted a rise in first-quarter 2011 net income to .5
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