Singapore

THE sponsor of Accordia Golf Trust (AGT) has proposed to acquire the trust's 88 golf courses in Japan for 61.8 billion Japanese yen (S$804.1 million), or an implied purchase consideration of S$0.732 per unit, AGT said on Monday.

The price represents a premium of 5.1 per cent and 12.9 per cent over, respectively, AGT's adjusted net asset value of S$764.9 million and adjusted net tangible assets of S$712.3 million as at March 31.