A&G News 16 November 2020
Allen & Gledhill advised Frasers Centrepoint Asset Management Ltd., in its capacity as manager of Frasers Centrepoint Trust (“FCT” and the manager, “FCT Manager”), on the acquisition of approximately 63.1% of the total issued share capital of Asiaretail Fund Limited (“ARF”) and the proposed divestment of the property currently known as Bedok Point. As part of the acquisition, Allen & Gledhill advised on the equity fund raising to raise gross proceeds of approximately S$1.33 billion.
Upon completion of the acquisition of ARF, FCT will be among the largest suburban retail mall owners in Singapore. Additionally, after the equity fund raising, FCT is expected to be among the top ten largest S-REITs by market capitalisation.
Advising the FCT Manager were Allen & Gledhill Joint Managing Partner Jerry Koh and Partners Lyn Wee, Eudora Tan and Chua Bor Jern.