SGX-listed OUE Group's REITs merge to create $5b entity

OUE Downtown

Two of Singapore’s real estate investment trusts (REITs) have proposed a merger that would create one of the largest diversified REITs in the city-state with total assets of approximately S$6.8 billion ($5 billion), according to an SGX filing on Monday.

The respective managers of OUE Commercial REIT (OUE C-REIT) and OUE Hospitality Trust (OUE H-Trust) announced the proposed merger by way of a trust scheme arrangement, with OUE C-REIT acquiring all the issued and paid-up securities in OUE H-Trust in exchange for a combination of cash and new units in OUE C-REIT.

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