Ascott Residence Trust Divests Somerset West Lake Hanoi
Ascott Residence Trust Management Limited, as manager of Ascott Residence Trust (“Ascott Reit”), wishes to announce that DBS Trustee Limited, in its capacity as trustee of Ascott Reit (the “Trustee”), has divested its entire shareholding interest in The Ascott (Vietnam) Investments Pte Ltd, and novated the shareholder’s loans owing from the Target Company to the Trustee, to an unrelated third-party purchaser, for an aggregate consideration of US$10.0 million (approximately S$13.7 million 1 ).
