First REIT Completes First Phase of Indonesia Divestments

MT Newswires09-25

First Real Estate Investment Trust (SGX:AW9U) completed the first phase of its proposed Indonesia divestments, after receiving payment from the respective buyers, according to a Thursday Singapore Exchange filing.

The completion covers the proposed divestment of eight hospital assets and three non-hospital assets, except for the LK Non-Core Properties and shares in NBN, BBC and MAM.

The relevant hospital target company shares have been transferred to the purchasers, while NBN completed the grant of a lease to BSS for the proposed MPU Non-Core Lease.

The remaining divestments are expected to be completed within 18 business days of the first completion, it said.

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