Volare's partial offer for Sabana REIT turns unconditional

The closing date for the partial offer has been extended to March 24.

The partial offer made by Volare Group to acquire 10% of the units in Sabana REIT M1GU that it does not already own, has turned unconditional.

The offer was declared unconditional when the minimum acceptance condition was satisfied on March 8.

Volare had received valid acceptances of about 109.6 million units representing 10% of the units in issue of the REIT by the closing date.

As at 6pm on March 8, 177.2 million offer units have been tendered in acceptance of the partial offer.

Following the declaration, Volare has extended the closing date for the partial offer to 5.30pm on March 24, from its initial closing date on March 10. The Swiss entity does not intend to extend its partial offer beyond the final closing date.

Units in Sabana REIT closed at 42 cents on March 8.

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