Ascendas Real Estate Investment Trust (A-REIT) is proposing to divest A-REIT Jiashan Logistics Centre, a logistics facilities located near Shanghai, China.
The property is valued at $26 million (RMB125 million) and is currently owned by A-REIT J.W. Facilities, a wholly-owned subsidiary of A-REIT J.W. Investment. The latter in turn is a wholly-owned subsidiary of A-REIT.
On Wednesday, a sale and purchase agreement was entered with Goodman Developments Asia, GCLP Developments No. 3 (BVI) and Goodman China Logistics Holding by HSBC Institutional Trust Services (Singapore), the trustee of A-REIT.
Goodman Developments Asia and GCLP Developments No. 3 have agreed to acquire the entire equity stake of A-REIT J.W. Investment for $25.6 million. Goodman China Logistics is the purchaser guarantor.
A-REIT expects to complete the proposed divestment in 1Q FY2016/17.
Upon completion of the proposed divestment, A-REIT J.W. Investment and A-REIT J.W. Facilities will cease to be subsidiaries of the company.
A-REIT ended lower at $2.34 on Wednesday.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
The property is valued at $26 million (RMB125 million) and is currently owned by A-REIT J.W. Facilities, a wholly-owned subsidiary of A-REIT J.W. Investment. The latter in turn is a wholly-owned subsidiary of A-REIT.
On Wednesday, a sale and purchase agreement was entered with Goodman Developments Asia, GCLP Developments No. 3 (BVI) and Goodman China Logistics Holding by HSBC Institutional Trust Services (Singapore), the trustee of A-REIT.
Goodman Developments Asia and GCLP Developments No. 3 have agreed to acquire the entire equity stake of A-REIT J.W. Investment for $25.6 million. Goodman China Logistics is the purchaser guarantor.
A-REIT expects to complete the proposed divestment in 1Q FY2016/17.
Upon completion of the proposed divestment, A-REIT J.W. Investment and A-REIT J.W. Facilities will cease to be subsidiaries of the company.
A-REIT ended lower at $2.34 on Wednesday.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
0 comments:
Post a Comment