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OUE Commercial Reit, OUE Hospitality Trust in merger talks
OUE Commercial Real Estate Investment Trust and OUE Hospitality Trust are in discussions to merge in a cash and stock deal, the Wall Street Journal reported on Sunday, citing people with knowledge of the deal.
OUE Commercial will offer to buy OUE Hospitality to create a single entity that will remain listed on the Singapore stock exchange and hold assets totalling S$6.7 billion, the report added, citing sources. OUE Commercial Real Estate Investment Trust and OUE Hospitality Trust did not immediately respond to a request for comment.
The deal comes among a wave of mergers in the real estate investment funds sector. In May, Singapore-listed ESR-Reit bought rival Viva Industrial Trust in a deal valued at S$936.7 million, marking the first consolidation among Singapore's crowded mid-cap real estate investment trusts. REUTERS