Sabana REIT's crown jewel, New Tech Park. (Photo: REITsWeek)Sabana REIT's crown jewel, New Tech Park. (Photo: REITsWeek)

Activist investor Quarz Capital Asia and its directors have reached a resolution with ESR Group and E-Shang Infinity Cayman Limited with regards to legal proceedings filed by the latter.

In July 2023, ESR Group and E-Shang Infinity Cayman commenced legal proceedings in the High Court of Singapore against Quarz Capital Asia and its directors, Jan Frederic Moermann, Havard Chi Cher Pan, and Klaus Wille.

The claimants alleged that the defendants are liable to them for defamation, malicious falsehoods, and conspiracy relating to statements published between June and July 2023.

These statements were published in the context of a requisition for an extraordinary general meeting (EGM) of unitholders to vote for the internalisation of Sabana REIT.

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By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.