Two CapitaLand Limited (SGX: C31) entities — CapitaLand Mall Trust (SGX: C38U) and CapitaLand Commercial Trust (SGX: C61U) — are looking to merge.
This follows hot on the heels of another proposed merger between Frasers Logistics & Industrial Trust (SGX: BUOU) and Frasers Commercial Trust (SGX: ND8U).
What should investors make of the latest news? Let’s dig in more.
TL;DR: Merger of Two CapitaLand REITsSome key highlights from the proposed merger:
The merger will be carried out by CapitaLand Mall Trust acquiring all CapitaLand Commercial Trust units by way of a trust scheme of arrangement. For every 1 CapitaLand Commercial Trust unit held, the unitholder will receive 0.72 unit in CapitaLand Mall Trust and S$0.259 in cash. The combined entity, CapitaLand Integrated Commercial Trust, is expected to be the third-largest REIT in the Asia Pacific region and the largest REIT in Singapore with a property value of S$22.9...