Property developer Lippo Karawaci (LPKR) said that its Singapore unit, OUE Limited, had sold 17.6% of first real estate investment trust (REIT) for S$202 million value (US$276.74 million). OUE Limited has signed a conditional sales and purchase agreement to take over 60% stake in Bowsprit Capital Ltd, while OUE Lippo Healthcare Ltd. (OUELH) will take over the remaining 40% stake. Bowsprit is the First REIT manager that owns 7% of the first REIT for total S$99 million.

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