A consortium of investors including U.S. private-equity firm Warburg Pincus LLC and the founder of Singapore listed ARA Asset Management Ltd. have made an offer to buy the real-estate firm that values it at S$1.78 billion (US$1.28 billion).
The buyout consortium led by ARA's founder, John Lim, also includes Avic Trust Co., a Chinese state investment vehicle, Singapore's Straits Trading Corp., and Hong Kong tycoon Li Ka-shing's Cheung Kong Property Holdings Ltd.
The consortium has offered to pay S$1.78 per ARAshare, the firms said in a joint statement Tuesday. The offer price is a 26% premium to S$1.410 per share traded on Wednesday before the company halted trading in its shares. The Wall Street Journal reported the buyout plan Friday.
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(END) Dow Jones Newswires
November 08, 2016 04:09 ET (09:09 GMT)
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