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Sabana Reit manager questions internalisation proposal

The Business Times

THE proposed merger of ESR-Reit and Shari'ah Compliant Industrial Real Estate Investment Trust (Sabana Reit) is "the only offer that is currently on the table", the Reit manager's board said on Friday night, responding to fund managers Quarz Capital and Black Crane Capital's call to unitholders to reject the deal and internalise the Reit's management.