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Saizen Reit receives proposal for transaction, now evaluating it

THE manager of Saizen Reit said on Tuesday that it has received a written proposal in relation to a transaction, and that it requires time to review and evaluate this proposal.

There are no definitive agreements as yet. It added: "In the event that a transaction does not materialise, the manager intends to commence liquidation proceedings for Saizen Reit as soon as practicable."

Last month, it said there were exploratory enquiries on potential opportunities for Saizen Reit, so it took time to see if any enquiry developed.

Saizen Reit fell by 0.1 cent to 9.6 cents on Tuesday.