News about Lippo Malls Indonesia Retail Trust —
Given the impact of the Covid-19 pandemic on retail activity and malls valuation, Lippo Malls Trust has revised its purchase agreement of Lippo Mall Puri, initiated last year. Along with a decrease in price from 3.7 trillion rupiah to 3.5 trillion rupiah, the seller has agreed to provide some support and financing to the trust:
The seller, PT Mandiri Cipta Gemilang, will provide support and financing as part of the proposed deal. It will agree to lease certain areas of uncommitted space on a quarterly basis from the deal's completion date to Dec 31, 2024.