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Frasers Logistics & Industrial Trust and Frasers Commercial Trust Announce Proposed Merger By Way Of Trust Scheme

Frasers Logistics & Industrial Trust and Frasers Commercial Trust Announce Proposed Merger By Way Of Trust Scheme

The respective Managers of Frasers Logistics & Industrial Trust (“FLT”) and Frasers Commercial Trust (“FCOT”) today jointly announced the proposed merger of FLT and FCOT (the “Proposed Merger”). In conjunction with the Proposed Merger, FLT announced the proposed acquisition of 50% interest in Farnborough Business Park (“FBP”) from a wholly-owned subsidiary of Frasers Property Limited (“FPL” or the “Sponsor”) for an estimated consideration of £90.1 million (approximately S$157.7 million), subject to post-completion adjustments (the “Proposed Asset Acquisition”). The remaining 50% interest in FBP is currently indirectly held by FCOT. Upon completion of the Proposed Asset Acquisition, the enlarged REIT will hold 100% of the interest in FBP (the “Enlarged REIT”).

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