Frasers Centrepoint Trust , Frasers Property:to buy the rest of AsiaRetail Fund from its sponsor Frasers Property for some S$1.06 billion. Separately, FCT plans to divest Bedok Point to Frasers Property for a sale price of S$108 million. FCT units fell S$0.08 or 3.1 per cent to S$2.54 on Thursday before the announcement. Shares of Frasers Property closed at S$1.16 on Thursday, down S$0.01 or 0.9 per cent.
The long-stop date for the proposed merger between the two property real estate investment trusts , their managers announced on Friday. Both Reits will hold their respective unitholder meetings on Sept 29 to seek approval for the proposed deal. CMT units closed flat at S$1.96 on Thursday, while CCT units finished at S$1.68, up S$0.01 or 0.6 per cent.after the close of business on Sept 18. The counter rose S$0.03 or 0.8 per cent to S$3.89 on Thursday, before this announcement.
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