Deals
Frasers’ Singapore REITs Agree to Merge in $1.1 Billion Deal
- Combined group will have assets from Australia to Europe
- Increased size gives better access to funding for acquisitions
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Frasers Logistics & Industrial Trust has agreed to buy Frasers Commercial Trust in a S$1.5 billion ($1.1 billion) deal, giving it greater ammunition to make acquisitions amid a spate of consolidation among Singapore’s real estate investment trusts.
Combined, the group will have about S$5.7 billion of assets, propelling it into the city-state’s top 10 REITs, according to a statement Monday. With about 100 properties across Singapore, Australia and Europe, including warehouses, offices and business parks, the merged firm’s market value will almost double to about S$4.2 billion.