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Quill Capita Trust to buy Platinum Sentral in KL, undergo name change

Published on Apr 11, 2014 11:43 AM
 

SINGAPORE - Quill Capita Trust, a real estate investment trust (Reit) partly owned by CapitaLand, has agreed to buy Platinum Sentral in Kuala Lumpur from MRCB Sentral Properties for 750 million ringgit (S$290.6 million).

The deal will double the trust's asset portfolio size to about 1.6 billion ringgit, it said on Friday.

Quill, which is listed in Malaysia and invests in Malaysia commercial properties, will pay for the freehold commercial development by issuing new shares and taking on more debt.

It will issue 206.25 million units to MRCB at 1.28 ringgit per unit for a total of 264 million ringgit. This will give MRCB a 31 per cent stake in Quill, which is changing its name to MRCB-Quill Reit.

 
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