ESR-REIT and ALOG unitholders approve ELOG formation

The merger will be done by way of a trust scheme arrangement.

Unitholders of ESR-REIT and ARA LOGOS Logistics Trust (ALOG) have approved the merger of the two companies.

The merger will be done by way of a trust scheme of arrangement to form E-LOG which will focus on New Economy and Future-Ready APAC S-REIT.

Approximately 98.6% of the votes from ESG-REIT units were in favour of the union, while 62.9% of the ALOG unitholders approved the merger.

Other proposals approved were the issuance of new ESR-REIT units to ALOG unitholders at an issue price of $0.4924 for each ESR-REIT unit as part of the consideration for the merger; and amendments to the ALOG Trust Deed that will facilitate the implementation of the merger.

The first proposal was approved by 98.4% of ESG-REIT unitholders, while the second ordinary resolution was okayed by 94.8% of ALOG unitholders.

ELOG, which is backed by ESR Cayman Limited, is expected to be “amongst the top 10 largest S-REITs by free-float market capitalisation and have greater representation on the FTSE EPRA Nareit Global Developed Index,” according to Karen Lee, CEO of the ALOG Manager.

Follow the links for more news on

ARA LOGOS

ESR-REIT

merger

Also Read

COTD: APAC deal volume falls 6.8% amidst economic uncertainties and tensions

Securitisation seen as key for Singapore developers to enhance returns

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit