Saizen Reit, Sime Darby Property make headway in RTO deal

Singapore

A REVERSE takeover (RTO) deal between Saizen Real Estate Investment Trust (Reit) and Sime Darby Property Singapore that has been brewing since August has made headway.

Sime Darby Property, part of the Malaysian Sime Darby conglomerate, will have its Australian property assets injected into Saizen Reit in the RTO deal, Saizen Reit said on Monday.

Saizen Reit will acquire the properties for A$356 million (S$371 million). The properties comprise 20 industrial properties located in Aus…