Sabana Reit clarifies proposed merger with ESR-Reit not an asset sale

📆 5/8/2020 12:14 pm
📰 BusinessTimes

⏱ Reading Time:
16 sec. here
2 min. at publisher
📊 Quality Score:
News: 10%
Publisher: 51%

Singapore News News

Singapore Singapore Latest News,Singapore Singapore Headlines

THE proposed merger of Sabana Shari'ah Compliant Industrial Real Estate Investment Trust (Sabana Reit) with ESR-Reit is not an asset sale, but a merger by way of a trust scheme of arrangement that will allow unitholders to stay invested in a 'stronger, larger and more resilient enlarged Reit (real estate investment trust)', Sabana Reit's manager clarified in a bourse filing on Wednesday. Read more at The Business Times.

Under the proposed merger, Sabana Reit unitholders will be entitled to receive new units in ESR-Reit on an agreed exchange ratio of 0.940 ESR-Reit units for every one unit in Sabana Reit.

It added that the pro forma DPU accretion of 12.9 per cent for Sabana Reit unitholders, on a H1 2020 annualised adjusted basis, will be"the highest in the history of S-Reit mergers". Other benefits include improved trading liquidity in the enlarged Reit's units, and greater investor interest.

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:

Write Comment

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Sats, CapitaLand Reits top Singapore-listed companies in governance and transparencySINGAPORE - The corporate governance standard of Singapore listed companies reached a new high this year despite challenges posed by the Covid-19 pandemic, with Sats and CapitaLand Commercial Trust topping their respective rankings in an index released on Tuesday (Aug 4).. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »