In their new capacities as Chief Executive Officer and Deputy Chief Executive Officer of the ELOG Manager respectively, Adrian Chui and Karen Lee will work together to grow ELOG in its next phase of growth.
The respective managers of ESR-REIT and ARA LOGOS Logistics Trust (ALOG) announced on Oct 15 the proposed merger of ESR-REIT and ALOG to create a leading New Economy and Future-Ready Asia Pacific S-REIT, which will be named ESR-LOGOS REIT or ELOG.
ESR-REIT will pay 95 cents for each ALOG unit. Of this, 9.5 cents will be in cash, and the rest in units through the allotment and issuance of 1.6765 new ESR-REIT units (the consideration units) at an issue price of 51 cents for each consideration unit. The proposed merger will be effected by way of a trust scheme of arrangement which will require unitholders’ approvals.
