First REIT (SGX:AW9U) proposed to divest eight hospitals and three non-hospital assets in Indonesia for S$471.5mil, with a separate put option for the remaining six hospitals at S$294.8mil. The purchaser of the eight hospitals is PT Siloam International Hospitals Tbk (Siloam).
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The proposed divestments are subject to unitholders’ approval at an Extraordinary General Meeting (EGM) scheduled for Jun 2026, with targeted completion in Aug 2026.
Key Highlights
First tranche divestment.
The proposed divestment comprises eight hospital assets for IDR5.1tn (S$389.2mil) and three non-hospital assets for IDR1.1tn (S$82.4mil), bringing the total consideration to S$471.5mil. This represents a 2.1% premium over the average of the two latest independent valuations.
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Second tranche put option.
First REIT has the right to divest the remaining six Indonesian hospitals to Siloam for IDR3.9tn (S$294.8mil) by 31 Oct 2026. Completion of the put option divestments is subject to certain conditions, including the completion of the first tranche divestments and unitholders’ approval.
Financial impact.
Read more at SGinvestors.io.
Above is an excerpt from a report by Phillip Securities Research. Clients of Phillip Capital may be the first to access the full PDF report @ https://www.stocksbnb.com/.
