OUE Commercial REIT and OUE Hospitality Trust in talks to merge- WSJ

OUE Real Estate Investment Trust

07/04/2019 14:45

April 7 (Reuters) - OUE Commercial Real Estate Investment
Trust  OUEC.SI  and OUE Hospitality Trust  OUER.SI  are in
discussions to merge in a cash and stock deal, the Wall Street
Journal reported on Sunday, citing people with knowledge of the
deal.
    OUE Commercial will offer to buy OUE Hospitality to create a
single entity that will remain listed on the Singapore stock
exchange and hold assets totaling S$6.7 billion ($4.95 billion)
the report https://www.wsj.com/articles/singapore-listed-oue-commercial-reit-oue-hospitality-trust-reit-in-merger-talks-11554640314
 added, citing sources.
    OUE Commercial Real Estate Investment Trust and OUE
Hospitality Trust did not immediately respond to a request for
comment.
    The deal comes among a wave of mergers in the real estate
investment funds sector. In May, Singapore-listed ESR-REIT
 ESRR.SI  bought rival Viva Industrial Trust in a deal valued at
S$936.7 million ($691.50 million), marking the first
consolidation among Singapore's crowded mid-cap real estate
investment trusts.  urn:newsml:reuters.com:*:nL3N1SP23P
    
($1 = 1.3546 Singapore dollars)

 (Reporting by Sabahatjahan Contractor
Editing by Phil Berlowitz)
 ((Sabahatjahan.Contractor@thomsonreuters.com;))