Last year, Hong Kong-based real estate manager ESR acquired ARA Investment for US$5.2 billion. Straits Trading held a stake of around one-fifth in ARA Investment.
Straits Trading, following exceptional gains of more than $1 billion from the divestment of its stake in ARA Investment, is offering shareholders a distribution in specie worth some 50 cents per share.
Shareholders can choose between receiving 180 Straits Trading shares, or 145 ESR shares.
