Brokers' take
Croesus Retail Trust | Add Target price: S$1.17 June 29 close: S$1.185 CIMB Research, June 28
Blackstone Group has offered to take CRT private at S$1.17 for each unit. The offer price is 38 per cent above 12-month VWAP and at a 23 per cent premium to the March 2017 book value. Unitholders will be entitled to 4.06 cents of permitted distributions if the effective date falls on or before Oct 31, 2017. The offer price of S$1.17 per unit translates to an implied 5 per cent annualised FY17F NPI yield …
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