SINGAPORE (Dec 31): Lippo Malls Indonesia Retail Trust (LMIR Trust) is divesting two retail shopping malls in Indonesia – Pejaten Village in South Jakarta and Binjai Supermall in North Sumatra – for a total sale consideration of 1.28 trillion rupiah ($124.3 million).

This marks LMIR Trust’s first divestment since its listing in 2007.

The manager announced Monday that LMIR Trust has entered into conditional sale and purchase agreements to sell the properties to NWP Retail, a joint venture between Warburg Pincus and PT City Retail Developments.

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