RL Commercial REIT disclosed that deeds of assignment had been signed between RCR and its sponsor, Robinsons Land, for 13 commercial assets valued at P34 billion after the RCR board obtained shareholder approval the previous day.
, for 13 commercial assets valued at P34 billion after the RCR board obtained shareholder approval the previous day. RCR purchased the assets from RLC using a property-for-share swap transaction, which will transfer nearly 5 billion primary common shares of RCR to RLC at a P6.80/share valuation. The transaction will increase RLC’s stake in RCR from 50.05% to 65.90% once the deal is approved by the SEC.
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