ARA LOGOS Logistics Trust to seek unitholders’ approval for merger with ESR-REIT

The manager (the ALOG Manager) of ARA LOGOS Logistics Trust (ALOG) have issued notices on the unitholders’ meetings and the revised scheme document in relation to the proposed merger with ESR-REIT.

ALOG will convene its general meeting (EGM) and scheme meeting by electronic means on March 21.

Karen Lee, CEO of the ALOG Manager, said, “ALOG has performed well since the introduction of LOGOS as its new developer sponsor, with unit price increasing by over 79 percent since April 2020. With the completion of the acquisition of ARA, including our current sponsor LOGOS Group, by ESR Cayman Limited (the Sponsor and the Sponsor and its subsidiaries, the ESR Group), the overlapping mandates and conflicts of interest between ESR-REIT and ALOG will need to be looked at seriously. At status quo, both ESR-REIT and ALOG will have to compete for the common pipeline of new assets as well as operational and financial resource from the ESR Group and will also be competing again