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Saizen Reit gets firm offer for its assets

Saizen Real Estate Investment Trust's manager has received a firm offer for the reit's assets.

The reit's manager, Japan Residential Assets Manager Limited, said a recently-set up independent evaluation committee and joint financial advisers are currently reviewing and evaluating the offer.

In a statement, the manager said no definitive agreements have been entered into and there was no assurance that the offer will be accepted.

Saizen Reit units climbed seven Singapore cents or 8 per cent to close at 92.5 Singapore cents.