Reits & Property

The company has been grappling with tight credit conditions and a prolonged market downturn

The deal is expected to be completed in Q4 2026

It has held talks with banks to put four of its office parks into a real estate investment trust, they add

Net proceeds from the sale may be used to pare down debts and/or fund working capital requirements

When such trusts underperform, sponsors’ pain is eased by earning substantial management fees

Kudos to the company for sharing strategic plans with clear targets; other family-linked groups should too 

The counter is 5.7% down at S$7.79 at midday

It will be done at a consideration of 94 million euros, excluding third-party co-investment stakes

It is expected to be completed by Q4 this year