Singapore

FRASERS Property has entered into an agreement to acquire a 17.8 per cent stake in PGIM Real Estate Asia Retail Fund Ltd for S$356.4 million - subject to determination of the dividend amount payable in respect of the sale shares for Q4 2018.

In a regulatory filing on Monday, Frasers Property said its subsidiary, Frasers Property Crystal, has signed a deal with a shareholder of the fund to purchase some 94,013 shares, representing a 17.8265 per cent stake in the fund.