On Jan 20, Volare Group (the offeror), a Swiss entity that took a 5% stake in Sabana REIT in 2022, is making a partial offer for an additional 10% of Sabana REIT at 46.5 cents to its unitholders other than those already owned, controlled or agreed to be acquired by the offeror or any party acting in concert with it.
Volare Group in its announcement on Jan 20 for a partial offer to Sabana REIT's unitholders said a formal document, setting out the terms and conditions of the partial offer will be despatched to unitholders not earlier than 14 days and not later than 21 days from the date of the offer (Jan 20).
On Jan 21, Sabana REIT's manager said a circular with "the recommendation of the directors of the Manager who are considered independent for the purposes of the partial offer will be issued to unitholders within 14 days from the date of issue of the offer document".
