LMIRT faces opposition from unitholders on Lippo Mall Puri acquisition
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Uma Devi
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THE acquisition by Lippo Malls Indonesia Retail Trust (LMIRT) of Lippo Mall Puri has been in the works for over a year. But two weeks before unitholders are due to vote on the transaction, opposition has arisen to the deal.
This week, LMIRT management revealed that it had on Dec 4 received a letter from some LMIRT unitholders requesting the addition of a new resolution for the upcoming extraordinary general meeting (EGM) on Dec 14.
Some 41 unitholders with over 6 per cent of the vote have asked that voting on the acquisition be postponed by at least three months so that a new valuation can be commissioned for the property.
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