LMIRT to buy strata title units of Lippo Mall Puri at lowered price of 3.5t rupiah

📆 8/31/2020 4:03 AM
📰 BusinessTimes

⏱ Reading Time:
20 sec. here
2 min. at publisher
📊 Quality Score:
News: 11%
Publisher: 51%

Business Business Headlines News

Business Business Latest News,Business Business Headlines

THE manager of Lippo Malls Indonesia Retail Trust (LMIRT) has reached an agreement with its sponsor's wholly-owned subsidiary to buy the strata title units of Lippo Mall Puri at a lower revised price of 3.5 trillion rupiah (S$330.2 million). Read more at The Business Times.

LMIRT is also entitled to retain any cumulative surplus of actual NPI over the target NPI following the end of the vendor support period. The target NPI for the mall from FY2021 to FY2024 is 340 billion rupiah.

The revised purchase price of 3.5 trillion rupiah represents a discount of 9.47 per cent to the two independent valuations with vendor support and 3.47 per cent without vendor support. If the proposed acquisition is completed, Lippo Mall Puri will become the flagship asset of LMIRT's portfolio, according to James Liew, executive director and chief executive of LMIRT's manager.

Write Comment

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

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.

Orchard Road malls, Geylang Serai market among new places visited by Covid-19 patients while infectiousSINGAPORE - Several malls in Orchard Road and Geylang Serai market were among the new places added on Saturday (Aug 29) to the Ministry of Health's (MOH) list of places visited by Covid-19 patients while they were infectious.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »