The manager of EC World REIT has revealed on May 17, that it has been approached by Forchn International for the potential transaction involving the REIT’s interests in all its properties.
The transaction may or may not lead to the divestment of said properties.
No exclusive or binding arrangements related to the discussions have been entered into.
Forchn International is said to be leading the discussions on behalf of a consortium of purchasers.
SEE:Accretive acquisition and long WALE keeps EC World REIT at 'buy'
Nothing has been confirmed, says the manager of the REIT, including the price or terms of the divestment.
BofA Securities is the sole financial adviser to the manager in connection with the potential transaction.
Units in EC World REIT closed 1.5 cents higher or 2.0% up at 75 cents on May 17.
