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Warburg Pincus-backed REIT to buy rival in Singapore's first REIT merger

Reuters  |  SINGAPORE 

SINGAPORE (Reuters) - ESR-REIT will buy rival Viva Industrial Trust in a proposed deal valued at S$936.7 million, marking the first consolidation among Singapore's crowded mid-cap real estate investment trusts.The proposed merger will create the fourth largest industrial REIT in Singapore with about S$3.0 billion ($2.23 billion) in assets, the two firms said in a joint statement on Friday.Under deal terms, Viva security holders will receive S$0.96 per stapled security, which will be paid 10 percent in cash and 90 percent through the issue of new ESR-REIT units. The proposed deal represents an ...

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First Published: Fri, May 18 2018. 12:24 IST
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