OUE Commercial Real Estate Investment Trust and OUE Hospitality Trust are in discussions to merge in a cash and stock deal, the Wall Street Journal reported on Sunday, citing people with knowledge of the deal.OUE Commercial Real Estate Investment Trust and OUE Hospitality Trust are in discussions to merge in a cash and stock deal, the Wall Street Journal reported on Sunday, citing people with knowledge of the deal.
OUE Commercial will offer to buy OUE Hospitality to create a single entity that will remain listed on the Singapore stock exchange and hold assets totalling S$6.7 billion, the report added, citing sources. OUE Commercial Real Estate Investment Trust and OUE Hospitality Trust did not immediately respond to a request for comment.
The deal comes among a wave of mergers in the real estate investment funds sector. In May, Singapore-listed ESR-Reit bought rival Viva Industrial Trust in a deal valued at S$936.7 million, marking the first consolidation among Singapore's crowded mid-cap real estate investment trusts. REUTERS
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