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OUE Lippo Healthcare to acquire stakes in First REIT, manager for $142 mil; to be funded via rights issue

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OUE Lippo Healthcare to acquire stakes in First REIT, manager for $142 mil; to be funded via rights issue

Stanislaus Jude Chan Published on Tue, Sep 18, 2018 / 3:32 PM GMT+8

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SINGAPORE (Sept 18): OUE Lippo Healthcare (OUELH), the healthcare subsidiary of OUE, announced Tuesday it plans to acquire stakes in SGX-listed First Real Estate Investment Trust (First REIT) as well as its manager, Bowsprit Capital Corporation, for a total consideration of $142.2 million.

Through wholly-owned subsidiary OLH Healthcare Investments, OUELH has agreed to pay $102.7 million to acquire 83,593,683 units in First REIT, or 10.63% of the total issued units, for $1.228 each.

This represents a discount of 7.5% to First REIT’s 90-day average intraday high price of $1.3276 per unit.

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OUE Lippo Healthcare to acquire stakes in First REIT, manager for $142 mil; to be funded via rights issue

M&A

OUE Lippo Healthcare to acquire stakes in First REIT, manager for $142 mil; to be funded via rights issue

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OUE Lippo Healthcare to acquire stakes in First REIT, manager for $142 mil; to be funded via rights issue

M&A

OUE Lippo Healthcare to acquire stakes in First REIT, manager for $142 mil; to be funded via rights issue

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