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Tuesday, April 20, 2010

YTL acquires more shares in REIT firm

PETALING JAYA: YTL Corp Bhd is acquiring the remaining shares in YTL Pacific Star REIT Management Holdings Pte Ltd for S$40mil from Pacific Star REIT Management Holdings Ltd.

The company told Bursa Malaysia yesterday that the acquisition would involve 1.5 million ordinary shares and two class C redeemable preference shares.

It said the acquisition would be completed in two tranches – 750,000 ordinary shares and one class C redeemable preference share upon settlement of a sum of S$17.5mil.

The remaining stake will be transferred to YTL upon settlement of S$22.5mil on a date falling 24 months from the date of the agreement.

By The Star

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