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Spring REIT sets extraordinary general meeting to consider takeover offer

Hong Kong-listed Spring Real Estate Investment Trust plans to hold an extraordinary general meeting Oct. 29 to consider, among other things, the takeover offer by a unit of Asian alternative investment management firm PAG.

The HK$4.85-per-unit buyout offer commenced Sept. 29 with a first closing scheduled for Oct 29.

The REIT's manager has advised that unit holders take no action as regards the offer for the time being.

The meeting will also see a vote to approve the roughly 1.65 billion yuan shopping mall acquisition in Huizhou, China.

As of Oct. 5, US$1 was equivalent to 6.87 Chinese yuan.