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Nikkei Markets

MARKET BUZZ: Blackstone's Offer For Singapore's Croesus Retail Trust Fair -CIMB

By Singapore Newsroom
Nikkei Markets
SINGAPORE (Jun 29) -- CIMB Research says Blackstone Group's proposal to buy Singapore-listed Croesus Retail Trust for S$1.17 a unit seems fair and advises unitholders to accept the offer. Offer price translates to implied annualized FY17 net property income yield of 5%, which is fairly in line with current market transaction levels, house says in investor note. Raises target price to S$1.17 from S$0.98; keeps Add rating. Shares now +0.4% at S$1.18, after 11.4% gain yesterday.
- By Singapore Newsroom; sgeditorial@nikkeinewsrise.com; +65 6331 6250
- Edited by Lopamudra Bhattacharya
- Send Feedback to feedback@nikkeinewsrise.com
- Copyright (c) 2017 Nikkei NewsRise Asia Pte Ltd.

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