TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS): RELATED PARTY TRANSACTIONS SUNWAY REAL ESTATE INVESTMENT TRUST ("SUNWAY REIT") - PROPOSED ACQUISITION AND LEASEBACK OF SUNWAY HOTEL GEORGETOWN PROPERTY
|SUNWAY REAL ESTATE INVESTMENT TRUST|
|Subject||TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)|
RELATED PARTY TRANSACTIONS
|Description||SUNWAY REAL ESTATE INVESTMENT TRUST ("SUNWAY REIT")|
- PROPOSED ACQUISITION AND LEASEBACK OF SUNWAY HOTEL GEORGETOWN PROPERTY
Reference is made to the announcement released on 8 December 2014 in relation to the proposed acquisition and leaseback of Sunway Hotel Georgetown Property for a purchase consideration of RM74 million (“First Announcement”). Unless otherwise defined, the definitions set out in the First Announcement shall apply herein.
The Board of Directors of Sunway REIT Management Sdn Bhd, the manager for Sunway REIT, are pleased to announce that the proposed acquisition of Sunway Hotel Georgetown Property has been completed today in accordance with the terms and conditions of the SPA. The balance of the Purchase Consideration was fully paid to Sunway Biz Hotel Sdn Bhd using Sunway REIT’s existing debt financing facilities.
The Commencement Date of the Master Lease Agreement shall be 28 January 2015.
This announcement is dated 28 January 2015.
|Company Name||SUNWAY REAL ESTATE INVESTMENT TRUST|
|Date Announced||28 Jan 2015|