FCT to acquire Changi City Point

MAINBOARD-LISTED Frasers Centrepoint Trust (FCT) has entered into a conditional sale-and-purchase agreement to acquire Changi City Point mall for a purchase consideration of $305 million.

The announcement came yesterday from Frasers Centrepoint Asset Management (FCAM), the manager of the trust.

The acquisition was negotiated on an arm's-length basis between FCAM, on behalf of the trustee of FCT, and the vendor, Ascendas Frasers.