Mapletree REITS offer cash-only consideration option to $2.2b proposed merger

A backing of up to $2.2b will be implemented by the group.

Unitholders of Mapletree North Asia Commercial Trust Management Ltd. (MNACT) will be provided with an alternative option to receive in cash the scheme consideration of the MNACT and Mapletree Commercial Trust (MCT).

This is in addition to the existing options of the scrip-only consideration and cash-and-scrip Consideration.

The value of scheme consideration remains unchanged at $1.1949.

As part of a joint announcement by MCT and MNACT, the inclusion of the program allows for greater flexibility to choose the form of scheme consideration.

The decision to include the consideration came after a request from MNACT, following current market conditions and feedback from unitholders. According to them, this would also allow for the safeguarding of the interests of MCT unitholders.

“The addition of the alternative Cash-Only Consideration to MNACT Unitholders gives them complete flexibility in electing the form of Scheme Consideration. This does not change the Merger’s previous terms and we continue to believe in its strategic and financial rationale,” said Sharon Lim, CEO, MCT Manager.

Through this consideration, $2.2b will be funded via a Preferential Offering to MCT unitholders, which will also be backed by Mapletree Investments.

Mapletree Investments Pte. Ltd. (MIPL) will subscribe for the Preferential Offering for up to $2.2b at the issue price of $2.0038 per MCT unit.

The MIPL Undertaking and Sponsor Lock-Up Undertaking are in addition to MIPL’s support of the MCT Manager’s waiver of its acquisition fees.

Follow the link s for more news on

Mapletree Commercial Trust

notes issuance

Singapore

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia