<article>Advanced Holdings id discussing the acquisition of Agricore Global in an RTO deal and CIT is divesting an Ubi property.</article>

Advanced Holdings id discussing the acquisition of Agricore Global in an RTO deal and CIT is divesting an Ubi property.
<h3 style="text-align: justify;">Advanced Holdings discusses acquiring Agricore Global in RTO deal</h3>
<a style="color: #000080;" href="http://advancedholdings.com" target="_blank">Advanced Holdings</a> is proposing the acquisition of the entire interest in Agricore Global for a purchase consideration of S$180-S$240 million. Agricole collectively holds concessions to 23 parcels of agricultural permits in Indonesia to cultivate crude palm oil plantations.
Vendors of shares in the target enterprise are Hoch Ventures, Vertex DG, Hery Hermawan Herijanto and his family members.
According to details in a <a style="color: #000080;" href="http://infopub.sgx.com/FileOpen/200117%20Announcement%20Signing%20of%20Term%20Sheet%20v7a%20clean.ashx?App=Announcement&amp;FileID=436532" target="_blank">filing</a>, this is in addition to two forestry concessions for timber management, subject to completion of a group restructuring exercise.
Agricole  has a land permit area of 232,102 hectares and will see the purchase consideration satisfied by a mixture of cash and the issue of an allotment of new ordinary shares in Agshare capital of the company.
The proposed acquisition is expected to result in a reverse takeover (RTO) of the company under the listing rules of the SGX. Additionally, it provides the opportunity to explore a new business following challenging business and operating conditions.
<h3 style="text-align: justify;">CIT to divest Ubi property</h3>
The manager of <a style="color: #000080;" href="http://dealstreetasia.com/tag/cambridge-industrial-trust" target="_blank">Cambridge Industrial Trust (CIT)</a> is planning to divest a five-storey light industrial building at 55 Ubi Avenue 3 for a consideration of S$22.138 million.
Located at the junction of Ubi Avenue 3 and Ubi Road 3, the site has a gross floor area (GFA) of 141,135 square feet with a remaining land tenure of 39 years and originates from an unsolicited enquiry. The sale requires approval from the Housing and Development Board (HDB) and is forecast to close in May 2017.
Sale proceeds will be used to fund repayment of debt, acquisition opportunities, asset enhancement initiatives (AEI) and working capital.
The sale aligns with the firms FY2016 business strategy that will see it divest non-core properties, allowing it to recycle capital for greater investment flexibility and better returns.
CIT&#8217;s manager recently saw 80 per cent of the firm <a style="color: #000080;" href="http://www.dealstreetasia.com/stories/62983-62983/" target="_blank">acquired by E-Shang Redwood</a> and is expected to diversify its portfolio with the acquisition of properties in Australia and throughout the region.
Also Read:
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/62983-62983/">Singapore: Warburg-backed E-Shang Redwood buys 80% in Cambridge Industrial Trust</a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/singaporegic-acquires-p3-logistics-parks-from-tpg-real-estate-57510/">Singapore: GIC acquires P3 for €2.4b from TPG Real Estate, Ivanhoé Cambridge</a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/sg-realty-dealbook-ura-releases-two-sites-for-sale-59476/">SG Realty Dealbook: URA and JTC release sites for sale</a>

Advanced Holdings id discussing the acquisition of Agricore Global in an RTO deal and CIT is divesting an Ubi property.

SG Realty: Advanced Holdings to acquire Agricole; CIT divests Ubi property

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SG Realty: Advanced Holdings to acquire Agricole; CIT divests Ubi property

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