Boustead Industrial Fund Signs Deal with Jumbo Group Unit for Potential Singapore Property Investment

MT Newswires

01/20

Boustead Industrial Fund, a 25%-owned fund by Boustead Singapore (SGX:F9D) through subsidiary Boustead Projects, signed a framework deal with Jumbo Group of Restaurants for a potential investment in one of the properties owned by Boustead Industrial Fund, according to a Singapore bourse filing on Monday.

Jumbo Group of Restaurants is a wholly owned subsidiary of Jumbo Group (SGX:42R)

Under the agreement, Jumbo Group of Restaurants and Boustead Industrial Fund will establish a special purpose vehicle to acquire the property at 26 Tai Seng Street, Singapore.

Jumbo Group will own 30% of the special purpose vehicle, while 70% will belong to the Boustead Industrial Fund trustee.

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