Stoneweg European REIT (SGX:CWBU) proposed to convert into a stapled trust comprising the REIT and its business trust, according to a filing with the Singapore Exchange on Thursday.
The activity will be carried out by Stoneweg European REIT constituting Stoneweg European BT and the units of the European BT to be distributed to holders of the units in Stoneweg European REIT to form Stoneweg European Stapled Trust.
Through the conversion, the trust expects to improve its corporate structure and achieve optimal tax efficiency.
The REIT has already received an in-principle approval for the activity and will now seek unitholders' approval.
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