ESR-Reit, Ara Logos propose merger with pricing favouring ESR-Reit unitholders

ESR-REIT and Ara Logos Logistics Trust are proposing to merge in a S$1.4 billion deal, in a move that will create a real estate investment trust (Reit) with S$5.4 billion in total assets.

Under the deal, widely anticipated after their respective sponsors announced a merger earlier this year, ESR-Reit will be renamed as ESR-Logos Reit.

The new entity will have 87 properties spread across Singapore and Australia, as well as 41 properties owned via investment funds in Australia. And with a theoretical free-float market capitalisation of S$2.5 billion, it will be among the 10 largest Reits listed here.