ESR Cayman raises stake in Sabana Reit manager, buys Reit units in S$62.2m deal
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Singapore
ESR Cayman, through its subsidiaries, is raising its stake in the vehicle which owns the manager of Sabana Shari'ah Compliant Industrial Real Estate Investment Trust (Sabana Reit), and buying units in the Reit - in a deal worth S$62.2 million in net proceeds for Vibrant Group.
ESR said on Wednesday that after the transaction, it would indirectly hold an approximate 93.8 per cent equity interest in Sabana Investment Partners (SIP), a special purpose vehicle which wholly owns the Sabana Reit's manager called Sabana Real Estate Investment Management.
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