Manulife US Reit denies reported 200 billion won figure for sale of its manager

MANULIFE US Reit on Friday (Mar 17) denied reports of a 200 billion won (S$206.4 million) figure for the sale of its manager to Korean asset manager Mirae Asset Global Investments.

In its latest statement, Manulife US Reit’s manager clarified that Mirae’s non-binding proposal “does not contain reference to such a figure” and that the only monetary amount in the proposal relates to the purchase price of the manager’s shares.

The real estate investment trust’s (Reit) manager was responding to an earlier report by The Business Times, which quoted Maeil Business News Korea saying that Mirae is the preferred bidder to buy Manulife US Real Estate Management for 200 billion won, as well as part of a stake in the Reit. The 200 billion won amount appears significant.