Company briefs

Croesus acquiring Tokyo shopping mall for 11b yen

CROESUS Retail Trust (CRT) is acquiring a big shopping mall in Greater Tokyo for 11 billion yen (S$131.8 million). The purchase price represents a discount of 5.2 per cent to the independent valuation of the mall. The acquisition will be financed via a combination of bank debt, proceeds from the fixed rate notes issued by CRT in January this year as well as a private placement that will be offered to institutional and other investors.

Olam sells dairy processing plant