Frasers Centrepoint Trust: Fortifying its Reign as the King of Suburban Mall with NEX acquisition!
@SirBahamut：
$FRASERS CENTREPOINT TRUST(J69U.SI)$ FCT and FPL announced last night that they will be jointly acquiring a 50% stake in Nex, a suburban retail mall located in Serangoon, Singapore, for a consideration of S$652.5m from Mercatus. The agreed property value for the 100% stake is S$2,077.8m. After the acquisition, FCT and FPL will hold 25.5% and 24.5% stake in the mall, respectively. Source: FCT This acquisition will add another trophy asset to FCT’s portfolio, similar to other premier FCT-owned malls such as Northpoint City and Waterway Point! The transaction will solidify FCT's position as the leading player in the suburban retail mall market in Singapore and establish it as the largest owner of suburban retail shopping space in the country.
