Global Travel Media » Blog Archive » Ascott Residence Trust And Ascendas Hospitality Trust Enter Combination Deal To Become Asia Pacific’s Largest Hospitality Trust With Asset Value Of S$7.6 Billion

Home » Serviced Apartments » Currently Reading:

Ascott Residence Trust And Ascendas Hospitality Trust Enter Combination Deal To Become Asia Pacific’s Largest Hospitality Trust With Asset Value Of S$7.6 Billion

July 4, 2019 Serviced Apartments No Comments Email Email

Ascott Residence Trust (Ascott Reit) and Ascendas Hospitality Trust (A-HTRUST) today jointly announced a proposed combination, which will result in the combined entity becoming the largest hospitality trust in Asia Pacific, and the eighth largest globally, with an asset value of S$7.6 billion (the “Combination”). The combined entity will also become the seventh largest trust listed on the Singapore Exchange by asset value.

The total consideration for the Combination is S$1,235.4 million, comprising S$61.8 million in cash and 902.8 million in new Ascott Reit-BT Stapled Units. The Combination will be effected by way of a trust scheme of arrangement, with Ascott Reit acquiring all the A-HTRUST Stapled Units for a consideration of S$1.0868 per A-HTRUST Stapled Unit, comprising S$0.0543 in cash and 0.7942 Ascott Reit-BT Stapled Units. The consideration is based on a gross exchange ratio of 0.836x, derived from the audited net asset values per A-HTRUST Stapled Unit and Ascott Reit Unit.

The transaction brings together Ascott Reit’s global portfolio that comprises predominantly serviced residences and A-HTRUST’s 14 quality hotels in Asia Pacific, creating an enlarged portfolio of 88 properties with more than 16,000 units in 39 cities and 15 countries across Asia Pacific, Europe and the United States of America. It will also further diversify Ascott Reit’s global portfolio with foray into new gateway cities – Brisbane and Seoul.

Comment on this Article:







Time limit is exhausted. Please reload CAPTCHA.

Platinium Partnership

ADVERTISEMENTS

Elite Partnership Sponsors

ADVERTISEMENTS

Premier Partnership Sponsors

ADVERTISEMENTS

Official Media Event Partner

ADVERTISEMENTS

Global travel media endorses the following travel Publication

ADVERTISEMENTS

GLOBAL TRAVEL MEDIA VIDEOS

Advertisements

sitemap