CapitaLand appoints J.P. Morgan to review 59.3% stake in Australand Property

Unnamed potential buyers are already in line.

In a release, CapitaLand Limited announced that pursuant to its earlier announcement that it is undertaking a strategic review of its 59.3% stake in Australand Property Group, it has appointed J.P. Morgan Limited as Financial Advisor to assist it in the review. 

Several parties both Australian and foreign have expressed an interest in either the whole or parts of the Australand business and Australand is making available certain information to selected parties.

There can be no assurances that any definitive proposal will be forthcoming as a result of these expressions of interest. CapitaLand is mindful of its obligations under the SGX-ST Listing Rules and will make the necessary announcement if there are any material developments.