Singapore's Frasers Property to sell stake in office tower for $327m

Singapore's Frasers Property to sell stake in office tower for $327m

Frasers Tower. Source: Frasers Property

Frasers Property on Thursday announced that it plans to sell a 50 per cent stake worth S$442.7 million ($326.86 million) in subsidiary Aquamarine Star Trust (AST), which owns the 38-storey Grade A Central Business District (CBD) development called Frasers Tower.

It said its subsidiaries, Frasers Property Aquamarine Trustee Pte Ltd (FPAT) and FCL Aquamarine Pte Ltd (FCLA), have entered into an agreement for the transaction with an undisclosed strategic investor.

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