LMIRT faces opposition from unitholders on Lippo Mall Puri acquisition
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.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Goldman Sachs scraps EU-era bonus cap for top bankers in UK: source
Thomson Reuters lifts 2024 forecast on first quarter revenue result
DBS customers unable to log into digibank, PayLah! on Thursday
US: Wall St opens higher after Fed leaves interest rates alone
Japan’s Sumitomo Corp net profit down 32% on Madagascar one-off loss
Moody's tops quarterly profit estimates on strong product demand