Sabana REIT taps FTI Consulting as adviser for implementation of Quarz’s resolutions

Amongst Quarz’s resolutions is to internalise the REIT’s manager.

Sabana REIT has appointed FTI Consulting as its professional adviser on the implementation of the resolutions from Quarz, which were passed on 7 August.

In a bourse filing, the REIT’s trustee reiterated that its key priority is to “ act in the best interests of all Unitholders in the implementation of the resolutions.” 

According to the REIT’s trustee, the process of internalising Sabana’s management function will take at least 12 months due to the “complexity and unprecedented nature” of the process and dependencies beyond its control.

The trustee vowed to provide further updates “as and when there are material developments including, when appropriate, an indicative timeline for the implementation of the resolutions.”