Singapore-listed ESR-REIT, Viva Industrial in advanced merger talks - sources

Alpha Integrated Real Estate Investment Trust

26/01/2018 07:42

SINGAPORE, Jan 26 (Reuters) - Singapore-listed ESR-REIT 
 ESSR.SI  and rival Viva Industrial Trust  VIVA.SI  are in 
advanced merger talks aimed at a share swap deal near current 
market prices, sources familiar with the matter said on Friday. 
    In November, ESR Funds Management (S) Ltd, the manager of 
ESR-REIT, and Sabana Shariah Compliant Industrial REIT  SABA.SI  
called off their talks, which sources said were focussed on 
ESR-REIT buying Sabana REIT.  urn:newsml:reuters.com:*:nL3N1NV07F 
    ESR-REIT is currently valued at S$744 million ($570 million) 
and Viva has a market value of S$917 million ($702 million). 
    Trading in units of both companies was halted on Friday 
ahead of an announcement. 
    Asian logistics developer e-Shang Redwood (ESR) is backed by 
private equity firm Warburg Pincus.  
    ESR-REIT, Viva and Warburg Pincus declined to comment. There 
was no immediate reply from ESR. The sources declined to be 
named as the talks were private. 
    Bloomberg first reported the talks. 
    ($1 = 1.3072 Singapore dollars) 
 
 (Reporting by Anshuman Daga; Editing by Himani Sarkar) 
 ((anshuman.daga@tr.com; +65 64035676; Reuters Messaging: 
anshuman.daga.thomsonreuters.com@reuters.net)) 
 
Keywords: ESR REIT M&A/