Qatar Investment Authority sells 74m Pavilion REIT units for RM125.8m: Report

KUALA LUMPUR (Dec 10): Qatar Investment Authority (QIA) has sold 74 million units in Pavilion Real Estate Investment Trust (REIT) for RM125.80 million today, reported The Star.

It was reported that the sale was executed in an off-market deal at RM1.70 each (seven sen lower from Monday's close of RM1.77).

The report also stated that QIA sold the stake “by way of secondary placement”.

Maybank Investment Bank is the deal’s sole bookrunner and placement agent while QIA owned 35.6% of Pavilion REIT prior to the 2.4% stake disposal.

Pavilion REIT’s assets are Pavilion Mall, Pavilion Tower, Intermark Mall, Da Men Mall and Elite Pavilion Mall.