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PR Newswire
26-08-2013, 05:02 PM
Further update on the REIT...
Thai tycoon Charoen eyes $640 mil IPO for F&N REIT
Thai billionaire Charoen Sirivadhanabhakdi is looking to raise at least US$500 million ($640 million) by listing a hospitality trust in Singapore next year to help refinance some of the debt that his companies took on to win control of Fraser and Neave (F&N), people with knowledge of the matter said.
The real estate investment trust would hold service residences owned by F&N and hotels held by the Thai beer baron’s TCC Assets such as the InterContinental Hotel in Singapore.
The listing would also mark the first step towards the merging of F&N’s assets and Charoen’s business empire after the Thai tycoon won control of the Singapore drinks-and-property conglomerate early this year in an US$11 billion deal. Charoen controls F&N through TCC and Thai Beverage PCL .
Two sources said that while the exact size of the IPO has not been decided yet, they expect it would raise at least $500 million and be conducted in the first half of next year.
http://www.theedgesingapore.com/the-dail...-reit.html
Thai tycoon Charoen eyes $640 mil IPO for F&N REIT
Thai billionaire Charoen Sirivadhanabhakdi is looking to raise at least US$500 million ($640 million) by listing a hospitality trust in Singapore next year to help refinance some of the debt that his companies took on to win control of Fraser and Neave (F&N), people with knowledge of the matter said.
The real estate investment trust would hold service residences owned by F&N and hotels held by the Thai beer baron’s TCC Assets such as the InterContinental Hotel in Singapore.
The listing would also mark the first step towards the merging of F&N’s assets and Charoen’s business empire after the Thai tycoon won control of the Singapore drinks-and-property conglomerate early this year in an US$11 billion deal. Charoen controls F&N through TCC and Thai Beverage PCL .
Two sources said that while the exact size of the IPO has not been decided yet, they expect it would raise at least $500 million and be conducted in the first half of next year.
http://www.theedgesingapore.com/the-dail...-reit.html
“夏则资皮，冬则资纱，旱则资船，水则资车” - 范蠡
