26 Oct 2018

Acquisition of stakes in First REIT and First REIT’s manager Bowsprit Capital

Partners Sandy Foo, Danny Lim and Penelope Loh, Senior Associates Cynthia Wu, Cheryl Tay and Goh Jun Yi, Associates Ng Su Rong, Chin Cher Lin and Hilary Toh-Chin acted for OUE Lippo Healthcare Limited ("OUELH") on its acquisition of 10.63% of the total units in First Real Estate Investment Trust (“First REIT”); OUE Limited (“OUE”) and OUELH's acquisition of 100% of the total shares in First REIT manager Bowsprit Capital Corporation Limited; and the renounceable underwritten rights issue by OUELH to raise up to approximately S$150 million to fund the acquisitions. The aggregate consideration for the acquisitions by OUE and OUELH was S$201.6 million.