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Sign in Sign up for a FREE subscriptionESR Group acquires further 25% stake in ESR-LOGOS REIT manager as well as additional REIT units
ESR Group Limited and its subsidiaries (ESR) have completed the acquisition of 654,546 shares in ESR-LOGOS Funds Management (S) Limited, the manager of ESR-LOGOS REIT (E-LOG Manager) from Tong Jinquan (held via his wholly-owned subsidiary, Shanghai Summit Pte. Ltd.).
ESR is also acquiring 189.97 million ESR-LOGOS REIT (E-LOG, or REIT) units from Jinquan (held via his wholly-owned subsidiary, Leading Wealth Global Inc).
Following the acquisition, ESR remains the largest shareholder with more than a 90 percent stake in the E-LOG Manager and will also become the largest unitholder of E-LOG with a 14.4 percent stake in the REIT.
Jeffrey Perlman, chairman of ESR, commented, “We are pleased to strengthen our commitment to E-LOG, a testament to the strategic merits behind the formation of this leading new economy, APAC-focused REIT post the merger earlier this year. As the sponsor of E-LOG, ESR Group remains focused on leveraging its robust pipeline of high-quality i
