A wholly-owned subsidiary of ESR Cayman Limited has acquired a controlling stake in the shareholder of Sabana REIT’s manager.

The subsidiary, InfinitySub, has acquired 420 ordinary shares in the Blackwood Investments, which collectively represents 60% of the REIT manager's issued, and paid-up share capital.

Unitholders of Sabana REIT was first informed of the proposed acquisition, which would increase ESR Cayman’s stake in the REIT, in November 2018.

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By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.