On Jan 26, Mercatus Co-operative announced that it divested its 50% indirect stake in the suburban mall to a 51/49 joint venture (JV) by FCT and its sponsor, Frasers Property. The divestment was made for a consideration of $652.5 million.
Analysts are mixed on Frasers Centrepoint Trust’s (FCT) acquisition of a 25.5% stake in Nex, with Citi Research and RHB Group Research remaining “neutral” on the counter. OCBC Investment Research is also keeping its “hold” call.
Other brokerages like DBS Group Research and CGS-CIMB Research are more positive, keeping their “buy” and “add” calls following the acquisition. PhillipCapital has also kept its "accumulate" call albeit with a lower target price.
