Soilbuild Group’s Chairman Lim Chap Huat Partners with Blackstone to Privatise Soilbuild Business Space REIT
December 14, 2020 – The respective boards of directors of Soilbuild REIT Management, and Clay Holdings III Limited jointly announced the proposed privatisation and delisting of Soilbuild REIT.
Clay Holdings III, a newly-incorporated entity formed for the purpose of the Trust Scheme, is owned by Clay Holdings II Limited, which is in turn owned by Mr. Lim Chap Huat, Executive Chairman and Co-founder of Soilbuild Group Holdings Ltd.
Clay Holdings I Limited is an entity established by funds managed by affiliates of Blackstone Real Estate.
The Trust Scheme follows the initial holding announcement on 4 September 2020 by Soilbuild Manager, which stated that Mr. Lim Chap Huat had entered into a “Non- Binding Term Sheet” in relation to a possible transaction involving his and his family’s direct and deemed interests in Soilbuld REIT.
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