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Merger between Frasers' logistics, commercial Reits takes effect

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THE S$1.58 billion merger between Frasers Logistics & Industrial Trust (FLT) and Frasers Commercial Trust (FCOT) first proposed last December by way of a trust scheme of arrangement, is now effective. Read more at The Business Times.

In addition, FLT's manager noted that the trust's new investment mandate will come into effect on Wednesday.

"The investment mandate is to invest in a portfolio of income-producing real estate used predominantly for logistics or industrial purposes and located globally, and/or commercial purposes or business park purposes and located in the Asia-Pacific region, or in Europe ," FLT's manager said. As at 12.18pm on Wednesday, units in FLT were trading at S$1, up S$0.01 or 1 per cent, while units in FCOT last traded on April 9, following a request for suspension.

 

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