Sydney-based GPT Group has announced plans to withdraw to its home market and exit all overseas and non-core investments over time. 'The strategy is designed to restore shareholder confidence over time and deliver transparency, stability and security to the group's returns,' the company said in a press release.
Sydney-based GPT Group has announced plans to withdraw to its home market and exit all overseas and non-core investments over time. 'The strategy is designed to restore shareholder confidence over time and deliver transparency, stability and security to the group's returns,' the company said in a press release.
The company will focus in future on the active ownership of high-quality Australian retail, office and industrial assets, supported by the group's development and management capabilities and skills. 'Today's announcement regarding our strategic direction is an important step in restoring GPT to a position of leadership in the Australian listed property sector,' CEO Michael Cameron said.
GPT is active in Europe under the banner of GPT Halverton. Established in September 2004 and headquartered in London, GPT Halverton operates as a fund and asset management company in seven countries across Europe: Germany, the Netherlands, Luxembourg, France, Denmark, Sweden and Finland. The Halverton business was acquired by the GPT Group in July 2007.
GPT Halverton manages five funds across Europe in the industrial, office and retail sectors with total assets under management of EUR 1.7 bn.
