Mapletree Logistics Trust’s (MLT’s) plans to acquire 13 assets in China and 3 properties in Vietnam have been approved.
The approval was obtained at an extraordinary general meeting (EGM) that was held on 13 January.
Also passed at the EGM was a resolution to issue 106,382,979 new units in MLT as partial consideration for the China acquisitions.
MLT first announced in November 2021 that it is acquiring the assets from subsidiaries of its sponsor for about SGD1 billion.
As the acquisitions are considered to be interested party transactions, approval from the REIT’s unitholders were required.
Related: Mapletree Logistics Trust assuages ongoing concerns over Chinese market
MLT was last done on the Singapore Exchange at SGD1.78, which presently implies a distribution yield of 4.88% according to data on the Singapore REITs table.