Thai business magnate Charoen Sirivadhanabhakdi’s Frasers Property offered to take its Singapore-listed hospitality real estate investment trust (REIT) private on Wednesday in a deal valuing it at S$1.37 billion ($1.1 billion).
The parent company has offered S$0.710 apiece for every share it does not already own to shareholders of Frasers Hospitality Trust.
The offer represents a 6.8% premium to the unit’s last closing price.
The REIT, which debuted on the Singapore Exchange in 2014, manages a portfolio of 14 hospitality assets—including hotels and serviced residences—across nine cities in Asia, Australia, and Europe. It has a market capitalization of S$1.28 billion with its investment properties valued at S$1.76 billion as of December 2024.
Frasers Property holds a 24.23% stake in Frasers Hospitality Trust, while TCC Group owns a 36.72% stake in the REIT.
TCC did not immediately respond to a Reuters request for comment.
($1 = 1.3012 Singapore dollars)
Reuters
