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SABANA Gets Offer From Substantial Shareholder Volare Group

Jan 23, 2023 – SABANA Industrial Reit’s substantial shareholder Volare Group has launched a voluntary conditional offer to buy an additional 10% per cent of Sabana units at S$0.465 per unit.

The offer represents a 9.4% premium to the weighted average price unit of S$0.425 at the announcement date of Jan 20, 2023. The group currently holds 59,493,226 units in the SABANA, representing approximately 5.4% of the issued units. The offeror via its subsidiary Oel-Pool AG is one of Switzerland’s leading suppliers of fossil fuels. Oel-Pool AG and its subsidiary Moveri AG operate over 700 petrol stations under various brand, the statement said. The group also has real estate investments.

Read more here.