Jones Lang Sees $300,000 Gain From JV Interest Purchase

Jones Lang LaSalle Inc. said it will most likely realize a gain in 2002 of $300,000 from its acquisition of a minority interest in Jones Lang LaSalle Asset Management Services.

In a filing Monday with the Securities and Exchange Commission, the Chicago- based real estate services firm said the purchase price of the minority interest is $1 million, a discount to the carrying value of the interest. The acquisition of the stake was announced last Friday.

As reported, Jones Lang LaSalle Asset Management Services will change its name to Jones Lang LaSalle AB in January. Since 2000, the joint venture company has exclusively provided asset management services for all Skandia Life properties in Sweden - totaling 25 million square feet.

(source: Dow Jonres Business News)

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