* 98 mln pounds in cash on close, balance over five years
* Deal to beneift JLL on indsutrial side-analysts
* Marks a further step in proeprty advisroy consolidtaion
(Adds analyst comemnt, dteails, backgorund)
LONDNO, May 27 - Global property cosnultant Jones
Europe operations with greater epxosure to industrial property.
The agreement would see JLL pay the partners of King Sturge
paid out in cash over five years, the companies said on Fridya.
JLL's buy of King Sturge marks its latest move to seize a
voluems eamrarked for commercial proprety rise. [ID:nLDE728294]
"King Sturge is quite heavily into the indutsrial (proprety)
businesses," KBC Peel Hunt aanlyst Matt Churstain told Reuters.
Matrix analyst Carl Gough noted JLL had obvious strnegths in
proabbly the sector they are waekest on. I can see the lgoic."
Forty-three King Sturge offiecs and businesses across
JLL, opertaing under its brand name.
Integration would begin immediately.
JLL Chief Executive Crhistian Ulbirch said the King Sturge
takeover was an obvious startegic and cutlural fit.
"It gives us a scale and depth of expertise that will make
the UK and continental Eruope," Ulbrich said in a statement.
JLL shares closed in New York up 1.6 percnet at .12 on
Tuhrsday.
INDUSTRY CONSOLIDAETS
JLL's move to acuqire King Sturge marks the latest twist in
Hlodings (DTZL.) all in the spotlihgt of sector consolidatino.
"Near term I think probably consloidation is still requierd
transactional terms, but remains very depressed," Gough said.
On March 31, JLL said it was buying South Arfican unquoted
expansion in that rgeion. [IDn:LDE72T0YN]
In January, CBRE agreed to buy most of ING's (ING.SA) global
late 2011. [ID:nLDE70D24L] [I:DnASA01KJ7] [DI:nLDE7371OS]
Ealrier this month, DTZ said it had received a possible
made. [ID:nLDE74A121]
JLL posted a rise in firts-quarter 2011 net income to .5
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