TPL REIT Fund I (PSX: TPLRF1) has decided to divest from Project C- Technology Park, the investment trust informed the main bourse on Friday.
The Fund plans to do this through the sale of the project land by the Fund’s wholly owned subsidiary, TPL Technology Zone Phase I (Pvt.) Limited followed by liquidation of the Project SPV, and distribution of the liquidation proceeds to the Unitholders (Transaction).
The Transaction is subject to the execution of transaction documents, receipt of all corporate, regulatory and third-party approvals and completion of necessary formalities and processes by the Fund and the SPV in accordance with the constitutive documents of the Fund and applicable laws.
The TPL REIT FUND – I seeks long-term growth in NAV and dividend distribution for its Unitholders through investing in sustainable real estate assets in Pakistan.
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