Activist Fund Urges Singapore REIT Merger to Boost Value
- Ascendas Hospitality, Ascott Residence should merge: Quarz
- Deal could generate a potential gain for Ascendas of 40%
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Two Singapore REITs are being urged to join the wave of consolidation starting to sweep the industry.
Ascendas Hospitality Trust and Ascott Residence Trust should join forces to boost shareholder value and avoid potential conflicts following a separate deal in January that will see CapitaLand Ltd. gain ownership of the managers of both REITs, according to Quarz Capital Management Ltd.