SINGAPORE - A union may be on the cards for ESR-Reit and Sabana Shari'ah Compliant Industrial Real Estate Investment Trust , the latest in a string of consolidations in the Singapore real estate investment trust universe.
By way of illustration, if the scheme becomes effective, each Sabana unitholder will receive 94 new ESR-Reit consideration units for every 100 Sabana units held. Adrian Chui, chief executive officer and executive director of ESR-Reit's manager, said the merger is in line with its strategy to establish ESR-Reit as a leading pan-Asian industrial Reit.
The potential merger also offers the possibility for the trusts to reap"significant" operational synergies and realise upside through portfolio lease-up, asset enhancement initiatives and redevelopment opportunities, Mr Chui said. "The larger asset and tenant base will put us in a stronger position to undertake initiatives to improve and rejuvenate the portfolio at lower costs with minimised execution risks," he noted.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Source: BusinessTimes - 🏆 15. / 51 Read more »