TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS SUNWAY REAL ESTATE INVESTMENT TRUST (SUNWAY REIT) PROPOSED ACQUISITION OF THE SUBJECT LANDS AND BUILDINGS IN SUNWAY CITY FOR A PURCHASE CONSIDERATION OF RM550 MILLION
|SUNWAY REAL ESTATE INVESTMENT TRUST|
|Subject||TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS
SUNWAY REAL ESTATE INVESTMENT TRUST (SUNWAY REIT) PROPOSED ACQUISITION OF THE SUBJECT LANDS AND BUILDINGS IN SUNWAY CITY FOR A PURCHASE CONSIDERATION OF RM550 MILLION
On behalf of the board of directors of Sunway REIT Management Sdn. Bhd., being the manager of Sunway REIT, RHB Investment Bank Berhad wishes to announce that RHB Trustees Berhad, as the trustee of Sunway REIT, had on 24 December 2018 entered into a conditional sale and purchase agreement with Sunway Destiny Sdn. Bhd., a wholly-owned subsidiary of Sunway City Sdn. Bhd., which is in turn a wholly-owned subsidiary of Sunway Berhad, for its proposed acquisition of the Subject Lands and Buildings (as defined in the attachment below) for a total purchase consideration of RM550 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 24 December 2018.
Please refer attachment below.
|Company Name||SUNWAY REAL ESTATE INVESTMENT TRUST|
|Date Announced||24 Dec 2018|
|Category||General Announcement for PLC|