ESR-Reit Unitholders Approve VIT Merger

in Company news

Singapore's ESR-Reit unitholders approved the main resolution for the merger with a 94.2% of non-abstaining votes.

Under the proposed merger, ESR-Reit will acquire all of Viva's stapled securities in exchange for S$9.60 in cash and 160 new ESR-Reit units for every 100 stapled Viva securities held.

If completed, the merger would turn two smaller industrial REIT into one of Singapore's largest, effectively improving liquidity and visibility.