Cambridge Industrial Trust Management, the manager of Cambridge Industrial Trust, says that Oxley Global Limited, an indirect shareholder of the manager, has received several non-binding expressions of interest or EOIs for all or part of its 24% stake in the manager.
However, no firm decision has been made on any of the EOIs or as to the scope or terms of any sale, and there is no assurance that a sale transaction will take place, says CEO of Cambridge Industrial Trust Management Philip Levinson in an Aug 14 filing to the Singapore Exchange.
Cambridge Industrial Trust Management was responding to the article “Cambridge Industrial Trust’s manager goes up for sale” in issue 690 (Aug 17-23) of The Edge Singapore which said that it was about to be sold for $100 million, according to sources. This comes after months of tension between the manager and unitholders of the REIT, which has curtailed its growth potential.
The other main shareholders of the manager are National Australia Bank (NAB) with 56% and Mitsui & Co which holds the remaining 20%. NAB and Oxley acquired their stakes in the manager in a series of transactions in 2008, just before the global financial crisis struck.
Cambridge Industrial Trust last closed at 62.5 cents.
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
However, no firm decision has been made on any of the EOIs or as to the scope or terms of any sale, and there is no assurance that a sale transaction will take place, says CEO of Cambridge Industrial Trust Management Philip Levinson in an Aug 14 filing to the Singapore Exchange.
Cambridge Industrial Trust Management was responding to the article “Cambridge Industrial Trust’s manager goes up for sale” in issue 690 (Aug 17-23) of The Edge Singapore which said that it was about to be sold for $100 million, according to sources. This comes after months of tension between the manager and unitholders of the REIT, which has curtailed its growth potential.
The other main shareholders of the manager are National Australia Bank (NAB) with 56% and Mitsui & Co which holds the remaining 20%. NAB and Oxley acquired their stakes in the manager in a series of transactions in 2008, just before the global financial crisis struck.
Cambridge Industrial Trust last closed at 62.5 cents.
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