ESR-Reit and Viva Industrial Trust jointly announced their proposed merger.

ESR-Reit will acquire all of VIT's stapled securities, and in return issue new ESR-Reit units to the stapled security holders, providing VIT with an implied equity value of about S$936.7 million.

Based on the issue price of S$0.54 per new ESR-Reit unit, VIT stapled securityholders can expect to receive S$9.60 in cash, and 160 new ESR-Reit units for every 100 stapled securities held.