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21-24 of 24
Don' t feel that they are ready to take over Sabana. Three reasons. One, after their Cambridge venture, how much free cash flow will they have. Two, quality of Sabana' s properties. Three, if they are really interested, they will have ride on the wave of dissent and take the lead to convince all unitholders to oust the manager, rather than wait on the sideline for a motley bunch to act.
A takeover of sabana reit soon?
TURNING OF TIDE
A new substantial unitholder has emerged at Sabana Shari?ah Compliant Real Estate Investment Trust, which could shift the dynamics of a revolt that a group of small investors have waged against the manager of the REIT over the past month.
According to filings posted on SGXNet on March 3, e-Shang Redwood (ESR) now holds a 5.01% stake in Sabana REIT.
ESR is a pan-Asia logistics real estate developer, owner and operator. Warburg Pincus is its largest shareholder.
On Jan 18, ESR acquired an 80% stake in Cambridge Industrial Trust?s manager from National Australia Bank and Oxley Capital. The price was not disclosed.
According to filings posted on SGXNet on March 3, e-Shang Redwood (ESR) now holds a 5.01% stake in Sabana REIT.
ESR is a pan-Asia logistics real estate developer, owner and operator. Warburg Pincus is its largest shareholder.
On Jan 18, ESR acquired an 80% stake in Cambridge Industrial Trust?s manager from National Australia Bank and Oxley Capital. The price was not disclosed.