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Frasers Centrepoint Trust (J69U.SI)
- Reuters SG
Deals of the day-Mergers and acquisitions
** China Evergrande said its unit has entered a deal to sell its 65% stake in Shantou Hengmeng Property Development for 137.6 million yuan ($19.20 million). ** Roper Technologies said it will buy software firm Procare Solutions for $1.75 billion from private equity firms Warburg Pincus and TA Associates, as the industrial technology company looks to expand its portfolio of software products.
- EdgeProp
FCT to acquire additional 24.5% effective stake in Nex for $523.1 mil
Nex is the largest suburban shopping mall in Singapore with seven floors and a total net lettable area of 634,631 sq ft (Photo: Frasers Property)Frasers Centrepoint Trust (FCT) has agreed to acquire an additional 24.5% interest in Nex for $523.1 million. The trust entered into a share purchase agreement (SPA) with its sponsor, Frasers Property, to acquire the total issued share capital of FCL Emerald. FCL Emerald is wholly-owned by Frasers Property and holds a 49.0% interest in Nex. FCL Emerald
- Reuters SG
UPDATE 1-Frasers Centrepoint to buy additional 24.5% stake in retail mall NEX
Singapore retail real estate investment trust Frasers Centrepoint Trust said on Thursday it is acquiring an additional 24.5% effective interest in retail mall NEX for S$523.1 million ($390.4 million). "The acquisition follows from our initial acquisition of 25.5% in NEX in February 2023 and will raise FCT’s effective interest to 50.0% on completion," FCT's Chief Executive Officer Richard Ng said in a statement. The acquisition values the whole of NEX, the largest suburban mall in the northeast of Singapore by net lettable area, at S$2.13 billion, according to the statement.
