TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS PROPOSED ACQUISITION OF THE SUNWAY CLIO PROPERTY FOR A PURCHASE CONSIDERATION OF RM340 MILLION
|SUNWAY REAL ESTATE INVESTMENT TRUST|
|Subject||TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS
PROPOSED ACQUISITION OF THE SUNWAY CLIO PROPERTY FOR A PURCHASE CONSIDERATION OF RM340 MILLION
On behalf of the board of directors of Sunway REIT Management Sdn. Bhd. (the manager of Sunway Real Estate Investment Trust ("Sunway REIT")), RHB Investment Bank Berhad wishes to announce that RHB Trustees Berhad, as the trustee of Sunway REIT, had on 3 August 2017 entered into a conditional sale and purchase agreement with Sunway Forum Hotel Sdn. Bhd., a wholly-owned subsidiary of Sunway Berhad, for the proposed acquisition of the Sunway Clio Property (as defined in the attachment below) for a total purchase consideration of RM340 million to be entirely satisfied in cash (“Proposed Acquisition”).
Please refer to the attachment below for further details of the Proposed Acquisition.
This announcement is dated 3 August 2017.
Please refer attachment below.
|Company Name||SUNWAY REAL ESTATE INVESTMENT TRUST|
|Date Announced||03 Aug 2017|
|Category||General Announcement for PLC|