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FCT to buy 17.1% stake in PGIM Real Estate Fund for S$342.5m

FCT's manager intends to finance the acquisition with a combination of debt and equity financing

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Ng Ren Jye

Published Thu, Feb 28, 2019 · 09:50 PM

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Singapore

FRASERS Centrepoint Trust (FCT) has entered into agreements to acquire a 17.1 per cent stake in PGIM Real Estate Asia Retail Fund Ltd for about S$342.5 million, subject to determination of the dividend amount payable in respect of the sale shares for the fourth quarter of 2018.

FCT's wholly owned subsidiary, FCT Holdings (Sigma), has entered into 12 agreements with certain shareholders of the fund to purchase 90,346 shares, representing a 17.1312 per cent stake in the fund, said FCT's trust manager in a regulatory filing on Thursday.

frasers centrepoint trustPrudentialPGIMM&A

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