Suntec REIT Adds to its Stake in Southgate; FVE Increases to SGD 1.83
No-moat Suntec REIT's joint venture Southgate Trust, a 50% joint venture with PIP Trust, will acquire the remaining 50% stake in Southgate it does not already own. Narrow-moat-rated Dexus currently holds the balance and will exercise the put option, inherent in the original transaction in August 2016. The transaction comes as no surprise as management noted at the full-year result the likelihood of acquiring the balancing stake as high, as the original transaction also contained a call option fo...
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