SINGAPORE (June 25): Lion Global Investors, a subsidiary of Oversea-Chinese Banking Corporation (OCBC) has ceased to become a substantial shareholder in Lendlease Global Commercial REIT (LREIT), on Thursday.

Lion Global disposed some one million units via market transaction for a consideration of $0.7 million.

The company said that it has deemed interest in the units as it has discretionary power with acquisition or disposal rights, as well as voting rights over the units, in its capacity as fund manager.

This brings Lion Global’s total stake in LREIT to 4.97% (which represents 58.3 million units), from 5.05% (59.3 million units).

Units in LREIT closed 0.5 cents, or 0.7% down, at 68.5 cents.