OUE C-Reit, H-Trust merger becomes effective; creates enlarged S$6.9b Reit

H-Trust stapled securityholders will receive payment of the scheme consideration – 4.075 Singapore cents in cash and 1.3583 new C-Reit units per stapled security – by Sept 9.

These include commercial properties OUE Bayfront, One Raffles Place, OUE Downtown Office and high-end retail mall Mandarin Gallery in Singapore, as well as Lippo Plaza in Shanghai, and two hotels – Mandarin Orchard Singapore and Crowne Plaza Changi Airport. After the completion of the merger, the market capitalisation and free float of the enlarged Reit will increase significantly to around S$2.9 billion and S$1.1 billion, respectively.

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