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Sasseur Reit's sponsor signs MOU to explore expansion in Korea
SASSEUR Reit's sponsor Sasseur Group has signed a Memorandum Of Understanding with Meritz Securities, a subsidiary of Meritz Financial Group, to explore potential strategic collaboration in Korea.
Tapping Meritz Financial Group's network and expertise in Korea's financial services industry, Sasseur Group said that it will favour Meritz Securities as the "first option for financial services or investment pertaining to future business developments in Korea".
Similarly, Meritz Securities will provide necessary financial support and advice to Sasseur Group with respect to the Korean market.
Meritz Group and Sasseur Group also recently entered into agreements, after which Meritz Securities, Meritz Financial Group and Jung Ho Cho (chairman of Meritz Financial Group) became substantial unitholders of Sasseur Reit and their new deemed interests in Sasseur Reit are 6.62 per cent, 11.04 per cent and 11.04 per cent respectively.