SUBSCRIBERS

LMIRT faces opposition from unitholders on proposed Lippo Mall Puri acquisition

41 unitholders, who have over 6% of vote, seek to postpone vote

Uma Devi

Published Wed, Dec 9, 2020 · 09:50 PM

Singapore

THE acquisition by Lippo Malls Indonesia Retail Trust (LMIRT) of Lippo Mall Puri was 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.