A-Reit to buy 3 Science Park buildings for S$420m
Consideration to be paid in cash and equity, subject to shareholders' approval
Singapore
ASCENDAS Real Estate Investment Trust (A-Reit) plans to acquire the DSO National Laboratories buildings and DNV GL Technology Centre at Science Park Drive for S$420 million in cash and equity, the manager of the business space and industrial property trust said on Monday.
Of the purchase consideration, S$100 million will be paid in new units of A-Reit, the pricing of which will be based on the 10-day volume-weighted average price of the trust after an advanced distribution has gone ex. Either the buyer or seller, however, may opt for an all-cash settlement.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Olam outbids Dreyfus’ sweetened deal for Australia’s Namoi, raises offer to A$0.66 per share
Cordlife served letter of demand, notice of claim from customers
Indonesia’s Vidio is aiming to double subscribers ahead of IPO
DBS Q1 profit up 15% to S$2.95 billion; interim dividend at S$0.54 per share
KKR’s earnings rise 20% on strong management fees, annuities business
Stocks to watch: DBS, Olam, Parkway Life Reit, Japfa, CSE Global