KUALA LUMPUR: Aqar Australia Pty Ltd, a wholly-owned subsidiary of Al-`Aqar Healthcare REIT (Al-‘Aqar) has entered into a land sale contract (LSC) with Principal Healthcare Finance Pty Ltd to dispose of lands and buildings of Jeta Gardens Aged Care Facility in Australia for approximately RM74.9 million.
In a filing with Bursa Malaysia today, Al-`Aqar said the proceeds will be utilised for apportionment to Jade Aged Care Facility, buildings owned by Jeta Gardens, capital recycling and redemption of Al-`Aqar’s financing facilities as well as expenses related to the proposed disposal.
"Barring any unforeseen circumstances and notwithstanding the longer timeframe permitted under the contract, the proposed disposal is anticipated to be completed in the second half of 2024,” it said.
Simultaneously, it also said KPJ Healthcare Bhd
, through its subsidiaries, Jeta Gardens (QLD) Pty Ltd and its wholly owned subsidiary, Jeta Gardens Aged Care (QLD) Pty Ltd, has entered into a business sale and purchase agreement (BSA) with DPG Services Pty Ltd, involving the disposal of the business run by KPJ.
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