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BHG Retail REIT Terminates Proposed Acquisition of Badaling Outlets in Changping District, Beijing, China

BHG Retail REIT Terminates Proposed Acquisition of Badaling Outlets in Changping District, Beijing, China

BHG Retail Trust Management Pte. Ltd., as manager of BHG Retail Real Estate Investment Trust refers to its announcement dated 2 December 2019.

Further to the 2 December 2019 Announcement, the Manager had been collaborating with the Vendor and working towards completing the Acquisition (which included taking steps to finalise the Circular for the purposes of seeking the approval of Unitholders for the Acquisition), and had been monitoring the situation closely since the outbreak of the COVID-19 pandemic.

However, in view of the impact of COVID-19 on the capital markets and the economy as well as the inherent unpredictability and evolving situation, in the interest of the Unitholders, the Manager and the Vendor have mutually agreed not to proceed with the Acquisition.

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