Siloam signals interest in First REIT’s Indonesia hospital assets

Siloam currently operates the hospital assets.

First REIT’s tenant, Siloam International Hospitals (Siloam) has expressed an interest in acquiring the REIT’s portfolio of hospital assets in Indonesia.

Siloam is the existing tenant and operator of these hospital assets and is majority-owned and controlled by a fund managed by CVC Capital Partners.

On 13 January, First REIT announced that it had received a preliminary non-binding letter of intent (LOI) from Siloam. The REIT has appointed Citigroup Global Markets Singapore (Citi) to conduct a strategic review to assess the LOI and explore all strategic options for First REIT.

In a bourse filing, First REIT said that “there is no certainty or assurance that any transaction will materialise from the strategic review or the LOI, or that a definitive or binding agreement will be reached relating to any of the assets of First REIT.”

In addition, the REIT advises its unitholders and potential investors to exercise caution when dealing in the company’s units.

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