OUE Lippo Healthcare to acquire stakes in First REIT, manager for S$142m; to be funded via rights issue

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SINGAPORE (Sept 18): OUE Lippo Healthcare (OUELH), the healthcare subsidiary of OUE, announced Tuesday it plans to acquire stakes in SGX-listed First Real Estate Investment Trust (First REIT) as well as its manager, Bowsprit Capital Corporation, for a total consideration of S$142.2 million.

Through wholly-owned subsidiary OLH Healthcare Investments, OUELH has agreed to pay S$102.7 million to acquire 83.59 million units in First REIT, or 10.63% of the total issued units, for S$1.228 each.

This represents a discount of 7.5% to First REIT’s 90-day average intraday high price of... (Click here to read the full story)