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ARA unit to acquire 19.5% stake in Aussie real estate firm

Mr Lim: "We are attracted to Cromwell's track record of value-enhancing strategies and strong corporate governance."


A WHOLLY owned subsidiary of Singapore-based ARA Asset Management will acquire a 19.5 per cent stake in Australian real estate firm Cromwell Property Group for A$405.9 million (S$416.9 million).

ARA will acquire the stake from South African-based real estate investment...