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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

Published Wed, Jun 28, 2017 · 09:50 PM

Blackstone

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.

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