News about Frasers Centrepoint Trust —
FCT to divest White Sands mall for $467 mil; 8.4% above independent valuation
rasers Centrepoint Trust announced on July 1 that it has entered into an agreement with an unrelated third party for the proposed divestment of White Sands mall for $467 million....read more on The Edge Singapore
The divestment consideration represents an 8.4% premium to its independent valuation of $431 million as of May 31. This will result in a net gain of around $32.4 million for the manager.
FCT states that the net proceeds from the divestment will be approximately $454.1 million and it intends to utilise the net proceeds to pay down debt.