AIMS AMP Capital Industrial REIT Management, which is the manager of AIMS AMP Capital Industrial REIT, or AA REIT, said on Wednesday that AIMS Financial Service Group proposed acquiring shares held by AMP Capital Investors in AA REIT’s managers and in units of AA REIT.
If the deal is completed, it will result in AIMS Financial Group holding 100 percent of AA REIT’s management entities and a 17.88 percent holding in AA REIT units, it said in a filing to SGX after the market close on Wednesday.
AMP Capital currently owns a 50 percent interest in AA REIT’s management entities and a 10.26 percent stake in AA REIT, it said. The AIMS Financial Group currently holds a 50 percent interest in AA REIT’s management entities, it said.
After the sale of AMP Capital’s shareholding in AA REIT’s management entities, the names of the REIT and its management entitties will be changed to remove references to AMP, the filing said.
AIMS Financial Group is a diversified financial services and investment group, with its businesses spread across Australia, China, Hong Kong and Singapore, it said.