Key Points
- PT Lippo Karawaci Tbk. ("LPKR"), Indonesia's largest listed property company by total assets, revenues and net profit, will emerge as the largest shareholder of Lippo-Mapletree Indonesia Retail Trust (“LMIRT”) and 100% shareholder of the LMIRT Mgt, following a series of transactions totalling S$197.4 million (equivalent to US$165.5 million).
- LPKR, through its wholly-owned subsidiaries, had signed definitive agreements to purchase 97,853,918 units (approximately 9.02%) in LMIRT and 40.0% in Lippo-Mapletree Indonesia Retail Trust Management Limited (“LMIRT Mgt”) from the Mapletree Group entities (“Mapletree”). The purchase agreement for the 9.02% was signed by LPKR subsidiary, Bridgewater International Ltd (“BIL”). It had also contracted to buy over a further 18.22% interest in ...
