This divestment comes after the REIT faced queries from the Singapore Exchange regarding the refinancing efforts of its offshore loans back in June.
EC World REIT has released a slew of responses to investor questions ahead of its Dec 16 EGM, which was called to ask shareholders to approve the divestment of two of the REIT’s properties in China.
The REIT’s manager will divest its indirect interests in Stage 1 Properties of Bei Gang Logistics and Chongxian Port Logistics for a consideration of RMB1.37 billion ($276.0 million).
