The merger will be done via a trust scheme of arrangement, where ESR-REIT will acquire all units of Sabana REIT in exchange for new units in ESR-REIT.
SINGAPORE (July 16): The managers of ESR-REIT and Sabana Shari’ah Compliant Industrial REIT (Sabana REIT) jointly announced the proposed merger of both REITs.
Following the completion of the merger, the enlarged REIT will have total assets amounting to around $4.1 billion, which places it among the top five developer-backed industrial S-REITs by asset size. The enlarged REIT will also become the fourth largest industrial S-REIT by market share based on gross floor area (GFA).
