Mindarie's Alpha Integrated REIT cash offer declared 'unconditional'

Valid acceptances reach 111.77 million units on 9 February.

Mindarie Investment Pte. Ltd’s cash offer to acquire the remaining units of Alpha Integrated Real Estate Investment Trust has been declared unconditional after the offeror and parties acting in concert crossed the 50% ownership threshold.

Financial adviser United Overseas Bank Limited said valid acceptances received by 6:00 pm on 9 February amounted to approximately 111.77 million units, or about 9.93% of issued units, according to a bourse filing.

Together with units already owned or agreed to be acquired, valid acceptances brought the offeror’s aggregate unitholding to 576.08 million units, representing 51.20% of issued units.

With the minimum acceptance condition under the Singapore Code on Take-overs and Mergers satisfied, the offer has become unconditional in all respects.

The offer’s closing date has been extended from 10 February to 24 February.

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