The manager of Lippo Malls Indonesia Retail Trust (LMIRT) has agreed to purchase 69.59 per cent shares of Lippo Mall Kuta for Rp 800 billion ($59.8 million). The acquisition plan had been approved in an extraordinary general meeting recently.
Lippo Mall Kuta is a three-storey shopping mall in Bali that has been operating since 2013. The mall, which is still under the control of PT Lippo Karawaci Tbk (LPKR), has a gross floor area of 51,595 square meter with net leasable area of 20,405 square meter. It provides a wide range of lifestyle services and products, from fashion, culinary, and entertainment.
