Volare Group AG made an offer to acquire additional 10% of stake in Sabana Industrial Real Estate Investment Trust (SGX:M1GU) for SGD 51 million on January 20, 2023. The Partial Offer is made for SGD 0.465 in cash. On December 12, 2022, the Securities Industries Council (“SIC”) granted its consent to the making of the Partial Offer. The offer is subject to Offeror having received, by the Closing Date, valid acceptances and/or tenders in respect of not less than 109.612 million Units representing ten percent (10.0%) of the Units in issue of the Offeree. The Partial Offer will close at 5.30 p.m. (Singapore time) on March 10, 2023 or such later date(s) as may be announced from time to time by or on behalf of the Offeror. As on March 8, 2023, minimum tender acceptance condition has been met and offer became unconditional. As on March 8, 2023, 177.179 million units have been validly tendered in acceptance of the Partial Offer. Closing date of tender offer has been extended from March 10, 2023 to March 24, 2023. Ma RHT Capital Pte. Ltd. acted as financial advisor to Volare Group. Boardroom Corporate & Advisory Services Pte. Ltd. and The Central Depository (Pte) Limited acted as transfer agent for Sabana Industrial Real Estate Investment Trust.

Volare Group AG completed the acquisition of additional 10% of stake in Sabana Industrial Real Estate Investment Trust (SGX:M1GU) on March 24, 2023.