Biggest shareholder of Cambridge Industrial Trust's manager also considering exit

SINGAPORE - Cambridge Industrial Trust's manager looks increasingly likely to have new owners with its biggest shareholder also considering selling its 56 per cent stake.

The Reit manager announced in a Singapore Exchange filling on Thursday (Oct 22) that National Australia Bank's nabInvest Capital Partners (NAB) has told the manager that it has received offers for its shares.

This comes after the Reit manager's announcement in Aug 15 that its second biggest shareholder Oxley Global was approached to sell its 24 per cent indirect stake.

Together, both companies hold a total of 80 per cent indirect interest in the Reit manager. The remaining 20 per cent is held by Japanese trading house Mitsui & Co.

Both NAB and Oxley Global have said that they are considering the offers, but "there is no assurance or certainty that any transaction will take place", said the Reit manager.

The Reit manager will "make the relevant announcements at the appropriate times" and it advises unitholders and the public "to exercise care in their dealing or trading" in the Reit.