SINGAPORE - Mapletree Commercial Trust is proposing to buy a business park in Pasir Panjang at an agreed property value of $1.55 billion from Heliconia Realty, a direct wholly-owned subsidiary of Mapletree Investments, MCT's sponsor.
The property comprises Mapletree Business City located at 40, 50, 60, 70 and 80 Pasir Panjang Road in Singapore, as well as the common premises at 10, 20 and 30 Pasir Panjang Road. The acquisition will consolidate MCT's ownership over the entire development of MBCD, which also comprises Mapletree Business City , a four-block office and business park complex at 10, 20, and 30 Pasir Panjang Road already acquired by the trustee from the sponsor in 2016.
The acquisition is subject to approvals from MCT unitholders at an Oct 15 meeting and a successful equity fundraising. Details of the equity fundraising, including the issue price of new units, will be announced later.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Mapletree Commercial Trust to buy S$1.55b business park from sponsorMAPLETREE Commercial Trust (MCT) is proposing to buy a business park in Pasir Panjang at an agreed property value of S$1.55 billion from Heliconia Realty, a direct wholly-owned subsidiary of Mapletree Investments, MCT’s sponsor. Read more at The Business Times.
Read more »
Stocks to watch: Mapletree Commercial Trust, Keppel Corp, Ascott, DLF, Trek 2000THE following companies saw new developments that may affect trading of their shares on Friday: Read more at The Business Times.
Read more »
SoftBank in talks to boost WeWork investment by $1.38b or more, says FTLONDON (REUTERS) - SoftBank Group Corp is planning to invest an additional US$1 billion (S$1.38 billion) or more in WeWork, altering a warrant agreement struck before WeWork postponed its IPO plans, the Financial Times reported, citing people briefed on the matter.. Read more at straitstimes.com.
Read more »