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TSMP acts for Vibrant Group Limited in Sabana REIT deal
We are pleased to have acted for SGX-listed Vibrant Group Limited in its disposal of shares in Sabana Investment Partners Pte. Ltd., the holding company for the manager of Sabana REIT, and in its disposal of units in Sabana REIT. The REIT is Singapore’s first certified Shari’ah-compliant one and has a portfolio of 19 industrial buildings that are located entirely in Singapore. The three sale and purchase agreements were signed on 22 May 2019. The transaction required TSMP to, among other matters, obtain a waiver from the Singapore Exchange, such that our clients would not be required to hold an extraordinary general meeting to obtain shareholders’ approval for the transaction. This transaction, hot on the heels of Vibrant Group Limited’s disposal of 121 Banyan Drive, represents group’s commitment to consolidate its revenue streams and to realise its investments.
