Sabana Reit manager questions internalisation proposal
It asks Quarz and Black Crane to substantiate claims; says proposed merger is the only offer
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Janice Heng
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Singapore
THE proposed merger of ESR-Reit and Shari'ah Compliant Industrial Real Estate Investment Trust (Sabana Reit) is "the only offer that is currently on the table", the Reit manager's board said on Friday night, responding to fund managers Quarz Capital and Black Crane Capital's call to unitholders to reject the deal and internalise the Reit's management.
The Reit manager also asked the fund managers to "substantiate their claims or provide more details so that the management team and unitholders can carry out a serious analysis of their claims and proposals".
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