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No exclusivity arrangement to sell assets: OUE C-Reit

OUE C-Reit's manager said late on Friday that it has not entered any exclusivity arrangement in relation to a sale of any of OUE C-Reit's assets, nor is there any certainty that any such transaction will materialise.

This is in response to an article published on Friday in The Business Times titled "Will OUE Commercial Reit sell some of its assets?"

The Reit manager said that it explores potential acquisitions and divestment opportunities as part of its proactive asset management strategy with a view to maximising returns to unitholders.

In addition, the manager from time to time receives unsolicited expressions of interests in respect of the assets owned by OUE C-Reit, it said. It added that will evaluate all such proposals carefully taking into account the best interests of all unitholders.

While OUE Limited is the sponsor and controlling unitholder of OUE C-Reit and wholly owns the manager, OUE C-Reit is separately listed and is managed by the manager, it said in a bourse filing.

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"The manager, led by its board of directors which comprises a majority of independent directors, is responsible for managing the assets of OUE C-Reit in the best interests of all unitholders including assessing and, if thought fit, approving any potential acquisition or divestment," it said.

Units of OUE C-Reit closed down 0.5 Singapore cent to 37.5 Singapore cents on Friday, prior to the announcement.

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