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

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THE trust scheme of arrangement for the merger of OUE Commercial Real Estate Investment Trust (C-Reit) and OUE Hospitality Trust (H-Trust) on Wednesday morning became effective and binding. Read more at The Business Times.

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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