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BGP restarts plans for a trade sale or IPO

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BGP restarts plans for a trade sale or IPO

After failed at an IPO and portfoliodivestment in 2015, Australia-listed GPTGroup's spinoff company focused on the European property marketmight be ready to try again.

BGP Holdings plc Chairman RodMcGeoch said in a March 16 company newsletter that the isin "outstanding shape" and is following a "dual-track process"to explore both options. The company is also considering a sale ofindividual assets.

In July 2015, conwertImmobilien Invest SE endedits exclusive talks with BGP for a reported €1.1 billion portfolio sale. TheIPO, on the otherhand, was expected to net up to €500 million.

Established in 2005 by GPT and Babcock & Brown, thecompany has residential, retail and industrial assets in Germany and France,according to its website.