,Singapore

Frasers Property terminates share purchase agreement with Tran Thai Lands Company

It won't push through with the acquisition of the majority of stake in a Vietnam property firm.

Frasers Property Limited announced that the group’s subsidiary, Frasers Property Investments Vietnam, has terminated its share purchase agreement with Tran Thai Lands Company, Limited.

The proposed acquisition is 45 million ordinary shares, which represent 75% of the issued share capital of Phu An Dien Real Estate Joint Stock Company. 

Cancellation of the agreement took effect on 23 November 2021, with Tran Thai agreeing to refund and release from escrow all amounts paid by Frasers Property Investments Vietnam.

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