Aelios Launches $2.53 Billion Bid for Full Ownership of Suntec REIT
Real Estate

Aelios Launches $2.53 Billion Bid for Full Ownership of Suntec REIT

Aelios, a Singaporean company owned by billionaire Gordon Tang, has made an offer to purchase the remaining shares it does not own in Suntec Real Estate Investment Trust (REIT), valuing the REIT at S$3.39 billion ($2.53 billion).

Under the offer, Aelios will acquire Suntec REIT shares at a price of S$1.16 per share in cash. Based on Reuters' estimates, Aelios would need to invest $1.74 billion to purchase all outstanding shares of the REIT.

This move follows Aelios' acquisition of over 62 million shares, or 2.14%, in Suntec REIT on Thursday, raising its stake from 29.31% to 31.45%, which triggered a mandatory general offer.

The offer price matches Suntec REIT’s closing price of S$1.16 on December 4. Aelios has stated its intent to keep Suntec REIT listed on the Singapore stock exchange.

Aelios has assured it possesses adequate financial resources to fulfill the full acceptance of its offer. United Overseas Bank and DBS are acting as joint financial advisors for Aelios.

Aelios, a Singaporean company owned by billionaire Gordon Tang, has made an offer to purchase the remaining shares it does not own in Suntec Real Estate Investment Trust (REIT), valuing the REIT at S$3.39 billion ($2.53 billion). Under the offer, Aelios will acquire Suntec REIT shares at a price of S$1.16 per share in cash. Based on Reuters' estimates, Aelios would need to invest $1.74 billion to purchase all outstanding shares of the REIT. This move follows Aelios' acquisition of over 62 million shares, or 2.14%, in Suntec REIT on Thursday, raising its stake from 29.31% to 31.45%, which triggered a mandatory general offer. The offer price matches Suntec REIT’s closing price of S$1.16 on December 4. Aelios has stated its intent to keep Suntec REIT listed on the Singapore stock exchange. Aelios has assured it possesses adequate financial resources to fulfill the full acceptance of its offer. United Overseas Bank and DBS are acting as joint financial advisors for Aelios.

Next Story
Real Estate

Mahindra Lifespaces Bags Rs 12.5 billion Redevelopment in Mulund

Mahindra Lifespace Developers (MLDL), the real estate and infrastructure development arm of the Mahindra Group, has been appointed as the preferred developer for the redevelopment of a premium housing society in Mulund (West), Mumbai. The project will be developed across a 3.08-acre land parcel, with an estimated development value of approximately Rs 12.5 billion. Strategically located, the site enjoys proximity to major connectivity points—just 1.4 km from the upcoming Mumbai Metro Line 5 and 0.8 km from the Goregaon-Mulund Link Road. It also offers seamless access to the Eastern Expre..

Next Story
Infrastructure Urban

Snowman Adds Warehouses in Kolkata and Krishnapatnam

Snowman Logistics, India’s leading integrated temperature-controlled logistics company, has announced the commencement of operations at its two new state-of-the-art, owned cold storage facilities in Kolkata and Krishnapatnam. With these additions, the company’s total pallet capacity has reached 1,50,754, spanning 43 warehouses in 20 cities across the country. The newly operational Kolkata facility offers a storage capacity of 5,630 pallets, while the Krishnapatnam facility holds 3,927 pallets. These warehouses are equipped with advanced automation and infrastructure designed to enhanc..

Next Story
Resources

Noesis Enables IHCL Hotel Deal in Udupi–Manipal Corridor

NOESIS Capital Advisors, India’s leading hotel investment advisory firm, has successfully facilitated a landmark hospitality transaction in the Udupi–Manipal region of Karnataka. The deal involves the acquisition of a nearly completed, 130-key upscale hotel that will operate under one of the premium brands of IHCL, reinforcing NOESIS’ position as a preferred partner for strategic hospitality transactions across India. Strategically located on the Udupi–Manipal Highway, the 1.03-acre property will cater to business travellers, pilgrims and families visiting Manipal University. With..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?