RDS Partnership Advises AME REIT in Respect of Acquisitions of Subject Properties
- RDS Partnership Advises AME REIT in Respect of Acquisitions of Subject Properties for a total of RM69.3 million
Our firm’s Capital Markets and M&A Team is pleased to act for AME REIT, the first Shariah-compliant pure industrial REIT listed on the Main Market of Bursa Malaysia, in three related-party acquisitions of industrial properties in Iskandar Malaysia for a consideration of RM69.3 million.
The Capital Markets and M&A practice of Rosli Dahlan Saravana Partnership was appointed to advise the Board of Directors of I REIT Managers Sdn Bhd (IRM), the management company of AME Real Estate Investment Trust (AME REIT) in respect of their related party acquisition of three industrial properties from subsidiaries of AME Elite Consortium Berhad for a total cash consideration of RM69.3 million.
On 5 December 2022, RHB Trustees Berhad (in its capacity as trustee of AME REIT) entered into three conditional sale and purchase agreements with AME Development Sdn Bhd and Ipark Development Sdn Bhd respectively for the acquisition of three industrial properties, subject to, among others, the approval of the unitholders of AME at an extraordinary general meeting to be convened.
The industrial properties to be acquired by AME REIT includes existing lease arrangements for a period of 10 years with multinational companies such as HID Global Corporation (its parent company being Assa Abloy AB, a company listed on Nasdaq Stockholm) and SGS SA (listed on the Swiss Exchange).
Our Partner, Ong Eu Jin together with Senior Associate, Lee Zai-Lii (Lily) and Associates, Vincent Kow and Eileen Teoh acted as the principal solicitors in this corporate exercise.
The RDS Capital Markets and M&A team is active in the M&A space and the REITs sector. Kindly reach out to our partner, Ong Eu Jin at email@example.com for enquiries.
More information on this can be found at:
The Edge Markets:
7 December 2022