Macquarie Pacific Star, the manager of Macquarie MEAG Prime REIT, is conducting a strategic review of the trust to maximise value for its unitholders.
.jpg)
The move comes after unsolicited offers were received for Macquarie Real Estate's 26 percent beneficial interest in MMP REIT. The review will consider proposals on both the corporate and asset levels, including proposals to acquire 100 percent of the units in MMP REIT.
It also aims to close the gap between MMP REIT's net asset value and its traded unit price.
MMP REIT has been trading at a substantial discount to its net asset value of S$1.61 a unit.
But Macquarie Pacific Star has cautioned that there is no assurance that the review will result in any specific transaction.
MMP REIT owns nearly three-quarters of the Wisma Atria Shopping Centre and a quarter of Ngee Ann City.
The trust has been listed on the Singapore Exchange since September 2005. - CNA/ls/so
.jpg)
No comments:
Post a Comment