ALOG manager assures unitholders to benefits from approved merger with ESR-REIT
This after unitholders approved resolutions on the merger.
The unitholders of ARA LOGOS Logistics Trust (ALOG) will enjoy multiple benefits after it approved resolutions for the firm’s proposed merger with ESR-REIT through a trust scheme of the arrangement, which were passed during an extraordinary general meeting last 21 March 2022.
Following the approval, it will mark a growth in ALOG as part of ESR-LOGOS REIT (E-LOG), ARA LOGOS Logistics Trust Management Limited said in a bourse disclosure.
As part of E-LOG, the scheme would result in fiscal distribution per unit accretion and fiscal year 2020 net asset value per unit accretion of 12.8% and 5.3%, respectively.
This will be able to boost ESR Group’s “fully integrated platform and global tenant network, and create one of the top 10 S-REITs by free-float market capitalization, allowing better access to competitive sources of capital and greater funding flexibility.”
After the official completion of the proposed merger, ESR-REIT CEO Adrian Chui will be the CEO and executive director of E-LOG’s manager whilst ALOG CEO will be working with Chui as deputy CEO of the E-LOG manager.