SINGAPORE: Warburg Pincus-backed e-Shang Redwood (ESR) is in advanced talks to buy struggling Sabana Shariah Compliant Industrial REIT, sources familiar with the process said, in a likely first consolidation step in Singapore’s US$3.5bil mid-cap industrial trust sector.
ESR, an Asian logistics developer, has been conducting due diligence on Sabana Real Estate Investment Trust (REIT) and is set to complete its talks in a few months, said the sources. They, however, said ESR has not yet agreed on terms of a deal.
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