Singapore’s ESR-REIT ESRR.SI has agreed to buy Sabana REIT SABA.SI in a deal that will create the city-state’s fifth-largest industrial real estate investment trust by assets, adding to a wave of consolidation in the sector.
Hong Kong-based logistics developer and fund manager ESR, which has $22.1 billion in assets under management, is consolidating its presence in Southeast Asiaβs highest value market by merging a pair of Singapore industrial real estate investment trusts it manages in a deal valued at S$397 million ($285 million).
Each Sabana unitholder will receive 94 new ESR-REIT units for every 100 Sabana Units held, the companies said in a joint statement on Thursday.
The two firms had tried to merge in 2017, but talks were called off.
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So interesting!
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Very interesting read!
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thanks
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