A-Reit to buy 3 Science Park buildings for S$420m
Consideration to be paid in cash and equity, subject to shareholders' approval
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Singapore
ASCENDAS Real Estate Investment Trust (A-Reit) plans to acquire the DSO National Laboratories buildings and DNV GL Technology Centre at Science Park Drive for S$420 million in cash and equity, the manager of the business space and industrial property trust said on Monday.
Of the purchase consideration, S$100 million will be paid in new units of A-Reit, the pricing of which will be based on the 10-day volume-weighted average price of the trust after an advanced distribution has gone ex. Either the buyer or seller, however, may opt for an all-cash settlement.
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