OUE subsidiary acquires stake in First REIT and its manager

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A healthcare subsidiary of OUE Limited has proposed to acquire approximately 10.63% of First REIT’s total issued units.

The company, OUE Lippo Healthcare Limited, is also looking to acquire a 40% stake in Bowsprit Capital Corporation Limited, the manager of First REIT.

Accordingly, OUE Limited will acquire the remaining 60% stake in the REIT’s manager.

First REIT is a healthcare REIT with a portfolio of 20 properties, including hospitals and nursing facilities, across Indonesia, Singapore, and South Korea.

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