Blackstone's S$900 million offer for Croesus seen as attractive
Private equity firm is offering S$1.17 per unit via a trust scheme, which is at a 38% premium to 12-month volume-weighted average price
Singapore
UNITS of Japanese mall owner Croesus Retail Trust (CRT) soared past Blackstone's offer price to hit a record high after the US private equity firm made an offer for all the units in CRT.
The trust added 12 cents or 11.4 per cent to close at S$1.175, with 45.2 million units traded, making it the third most active counter on the market. This is significant for a counter with low trading liquidity usually.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Bitcoin ETF bandwagon heads to Australia after US$53 billion haul in US
Stocks to watch: Singtel, Keppel, Great Eastern, Seatrium, Best World
Cromwell E-Reit divests two assets for 7.2 million euros
Singtel expects S$3.1 billion impairment hit for H2; expects net loss
Seatrium launches S$100 million share buyback programme
Great Eastern reports 26% higher Q1 profit of S$306.7 million