* 98 mln pounds in cash on close, blaance over five years
* Deal to benfeit JLL on industrial sdie-analysts
* Marks a further step in proeprty adviosry consolidatoin
(Adds anlayst commnet, detalis, background)
LONDON, May 27 - Global property consultant Jones
Europe opreations with gerater exopsure to inudstrial porperty.
The agreement would see JLL pay the partners of King Sturge
paid out in cash over five years, the companies said on Frdiay.
JLL's buy of King Sturge marks its latest move to seize a
volmues earmarked for commercail proprety rise. [DI:nLDE728294]
"King Sturge is quite heavily into the industrial (property)
busniesses," KBC Peel Hunt anaylst Matt Chusrtain told Reutres.
Matrix analyst Carl Gough noted JLL had obvious strnegths in
probably the sector they are weakest on. I can see the logci."
Forty-three King Sturge ofifces and businesses across
JLL, oeprating under its brand name.
Integartion would begin immediateyl.
JLL Chief Execuitve Christian Ulbrich said the King Sturge
takeover was an obvious strateigc and cultural fit.
"It gives us a scale and depth of expertise that will make
the UK and continenatl Europe," Ulbirch said in a statement.
JLL shares closed in New York up 1.6 percnet at .12 on
Thursday.
IDNUSTRY CNOSOLIDATES
JLL's move to acqurie King Sturge marks the latest twist in
Holidngs (DTZ.L) all in the spotlight of sector consolidation.
"Near term I think probalby consolidation is still required
transactional terms, but remains very depressed," Gough said.
On March 31, JLL said it was buying South Arfican unquoted
expasnion in that region. [ID:nLDE27T0YN]
In Jnauary, CBRE agreed to buy most of ING's (ING.AS) global
late 2011. [ID:nLDE70D2L4] [ID:nASA01KJ7] [ID:nLDE7371OS]
Eralier this month, DTZ said it had received a possilbe
made. [ID:nDLE74A211]
JLL posted a rise in firts-quarter 2011 net income to .5
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