Category: Hospitality

OUE Commercial to buy OUE Hospitality for S$1.37b – CNA 0

OUE Commercial to buy OUE Hospitality for S$1.37b – CNA

SINGAPORE: OUE Commercial Real Estate Investment Trust said on Monday (Apr 8) it would buy OUE Hospitality Trust in a cash-and-stock deal worth S$1.37 billion (US$1.01 billion), creating one of Singapore’s largest REITs.Under the deal, OUE Commercial will issue 1.3583 new shares for every OUE Hospitality share, and pay S$0.04075 per share in cash. The total…