LMIRT faces opposition from unitholders on proposed Lippo Mall Puri acquisition

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.