Second time's the charm as ESR-Reit, Sabana Reit revive merger proposal
Enlarged Reit will have market value of S$1.8b and free float of S$1.3b, increasing its shot at EPRA NAREIT index inclusion
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ESR-REIT and Sabana Shari'ah Compliant Industrial Real Estate Investment Trust (Sabana Reit) are taking another crack at a merger after earlier talks in 2017 fell through, seeking to build an enlarged entity to stave off headwinds in a post-Covid world.
The proposal is the latest among S-Reits, with recent mergers including OUE Commercial Reit and OUE Hospitality as well as Ascott Residence Trust and Ascendas Hospitality Trust.
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