News Formal

Even before proposed merger, CCT and CMT have already been diversifying: managers

  • 📰 BusinessTimes
  • ⏱ Reading Time:
  • 36 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 51%

United States News News

United States United States Latest News,United States United States Headlines

CAPITALAND Commercial Trust (CCT) and CapitaLand Mall Trust (CMT) in a recent dialogue with unitholders, said that with or without a merger, both Reits (real estate investment trusts) have already been adopting a diversification strategy even within their own portfolios. Read more at The Business Times.

"The case for a larger and more diversified Reit has become even more compelling in the post-Covid-19 environment. While Singapore retail and office remain relevant, the onset of Covid-19 is likely to accelerate the trend towards more mixed-use precincts and integrated developments across Singapore."

The accretion figures of +4.1 per cent and +7.6 per cent for CMT and CCT unitholders respectively have come about as a result of the consolidation of CMT's retail and CCT's office portfolios and the ability of both platforms to unlock synergies and create value for the merged entity over time. The Reit managers simply replied that the pro forma financial effects do not take into consideration the synergies and opportunities that may be derived from the leadership, resilience and growth potential of the merged platform."It is important that we look at the transaction in its entirety," they said, adding that the combined platform is expected to unlock further synergies.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 15. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Playboy nears US$425 million deal to return to the stock market, sources sayPlayboy Enterprises is nearing a deal to go public through a merger with Mountain Crest Acquisition Corp , which would value the owner of Playboy ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Playboy nears US$425 million deal to return to the stock market, sources sayPlayboy Enterprises is nearing a deal to go public through a merger with Mountain Crest Acquisition Corp , which would value the owner of Playboy ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Expected bank merger wave puts Deutsche Bank on stand-byDeutsche Bank is preparing for a wave of mergers, its finance chief said on Tuesday, in a potential change for Germany's biggest lender, which has ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »