Sentral REIT has signed a conditional sale and purchase agreement to acquire Menara CelcomDigi for RM450 million from a wholly-owned subsidiary of Malaysian Resources Corporation Berhad.
The group said the proposed acquisition is expected to expand its total asset size by 21% from RM2.15 billion as of 31 December 2022 to approximately RM2.60 billion, upon completion of the exercise.
The purchase consideration was arrived at based on the market value of RM450.0 million as stated in the valuation certificate dated 20 July 2023, by CBRE WTW Valuation & Advisory Sdn Bhd an independent registered valuer appointed. Sentral said the purchase of the property will be fully paid in cash which will be raised through a combination of equity and debt funding exercises. The equity funding exercise will entail a proposed placement involving the issuance of up to 123,720,000 placement units.
The Property is fully occupied and anchored by a reputable tenant, Celcom Berhad under a long-term lease.
