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Sign in Sign up for a FREE subscriptionMapletree Commercial Trust and Mapletree North Asia Commercial Trust to merge in $3b deal
Mapletree Commercial Trust and Mapletree North Asia Commercial Trust have proposed a plan to merge in a $3.13 billion deal, creating Mapletree Pan Asia Commercial Trust.
It will be the third biggest Singapore-listed REIT, with S$17.1 billion ($12.67 billion) in total assets under management across Singapore, China, Hong Kong SAR, Japan and South Korea.
The merger will serve as a “launchpad” to expand further in Asia while ensuring it has a more stable financial footing and a diversified portfolio, according to the release.
The proposal is scheduled to be voted on during general meetings in mid-April.