In line with the divestment, Mercatus Tres will sell its 50% interest in Gold Ridge, which owns, manages and operates Nex to Frasers Property and FCT.
Mercatus Co-operative, the real estate arm of NTUC Enterprise, has divested its 50% indirect stake in Nex to Frasers Property Limited and Frasers Centrepoint Trust (FCT) for a consideration of $652.5 million.
The agreement was entered into by Mercatus’ subsidiary, Mercatus Tres, on Jan 26.
