Saizen REIT manager aborts reverse takeover deal of Sime Darby’s Aussie properties

SINGAPORE (March 10): Saizen REIT looks set to be liquidated after its manager announced that the proposed reverse takeover transaction for industrial properties in Australia under Sime Darby Property Singapore has been terminated.

Japan Residential Assets Manager says further discussions between the two parties will no longer proceed because is had become impossible to complete the proposed RTO deal by March 31, the long-stop date of the implementation agreement.

No other reasons were given in its filing after the market closed on Friday.

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