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First Real Estate Investment Trust Enters Into Conditional Sale And Purchase Agreements To Acquire Two New Income Producing Hospitals


Tuesday, 26 Mar 2013 07:45pm EDT 

Bowsprit Capital Corporation Limited, as manager of First Real Estate Investment Trust announced that First REIT has entered into conditional sale and purchase agreements to acquire two new income-producing hospitals in Indonesia, for a combined purchase consideration of approximately SGD190.4 million. The proposed acquisitions (the Acquisitions) comprise: Siloam Hospitals Bali (SHBL), located at Jalan Sunset Road, No.818, Kuta, Badung, Bali 80361, Indonesia, for a purchase consideration of approximately SGD97.3 million from a wholly-owned subsidiary of PT Lippo Karawaci Tbk (the Sponsor). This will be financed entirely by a drawdown of committed debt facility; Siloam Hospitals TB Simatupang (SHTS), located at Jalan Letjend. TB Simatupang/ Jalan R. A. Kartini No.8, Cilandak, South Jakarta, Indonesia, for a purchase consideration of approximately S$93.1 million from an indirect wholly-owned subsidiary of the Sponsor. This will be financed by a combination of a drawdown of committed debt facility and issuance of new units to the Sponsor (Consideration Units). he final issue price of the Consideration Units will be determined based on the 10-day Volume-Weighted Average Price of the Units immediately preceding the date of completion of the acquisition of SHTS. 

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1.225
-0.0050 -0.41%
25 Jul 2014