MMP – SGX

MMP REIT TO INCREASE ITS 50% STAKE IN PRIME CHENGDU RETAIL PROPERTY TO 100%

HIGHLIGHTS

• MMP REIT to pay consideration of RMB350 million (equivalent to S$70 million)
  for a 100% stake in the property
• Yield accretion of acquisition will be 3.4%, assuming 100% debt financing
• Guaranteed net distributable yield out of China of 7.54% p.a. or RMB26.4 million(equivalent to S$5.28 million) p.a., for two years
• MMP REIT to enter into Business Cooperation Agreement with the Renhe Spring Group
• MMP REIT retains first right of refusal to the Renhe Spring Group’s pipeline of opportunities in China

Source : SGX