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SGReit goes shopping for Isetan's share of Wisma Atria

It has issued a letter of intent, and said to be ready to offer more than fair value

Anita Gabriel

Published Mon, Sep 9, 2019 · 09:50 PM

Singapore

YTL's Starhill Global Reit (SGReit) is done window-shopping: The manager of the Singapore-listed Reit has made a direct overture to acquire Isetan Singapore's share of Wisma Atria, a prime leasehold property smack in the heart of Orchard Road, says a source.

The Business Times understands that SGReit's manager, part of the YTL Group controlled by Malaysian tycoon Francis Yeoh, issued a letter of intent (LOI) to Isetan more than a month ago to open talks on acquiring the Japanese firm's share in the shopping mall.

As it stands, SGReit owns a…