Link Real Estate Investment Trust (Link REIT), has engaged external consultants to conduct a strategic review of its asset portfolio.
In a voluntary announcement to the Hong Kong stock exchange, Link REIT says the review seeks to optimise its asset portfolio and maximise value for unitholders.
For the purpose of the review, Link Asset Management has appointed HSBC and UBS Hong Kong Branch as financial advisors, and DTZ Cushman & Wakefield (HK) as real-estate advisor to help assess strategic options.
HSBC’s appointment as a financial advisor is within the waiver granted by the Securities and Futures Commission in respect of connected party transactions with the bank and its subsidiaries, and was conducted at arm’s length on normal commercial terms, says the announcement.
No decision has yet been made as to any proposal and there is no assurance the process of the strategic review will lead to any transaction, says Link REIT.
Should the board, as a result of the strategic review or otherwise, decide a particular transaction would be in the interest of Link REIT and unitholders, relevant approvals will be sought.
Link REIT owns and runs shopping centres, parking amenities and real-estate retail space, specialising in neighbourhood properties. It has recently been upgrading many of its properties and divesting some to realise capital gains.