Mercatus will continue to retain ownership of assets that are substantially used by NTUC, NTUC Enterprise and its portfolio of social enterprises. Jurong Point and Swing By @ Thomson Plaza are divested as these are considered non-core.
The subsidiaries of Mercatus Co-Operative, a unit of NTUC Enterprise Co-operative, have entered into a sale and purchase agreement with various subsidiaries of Link REIT to divest Mercatus’ 100% interest in Jurong Point and Swing By @ Thomson Plaza for $2.16 billion.
The divestment, which is a result of a strategic review undertaken by Mercatus, is expected to be completed on March 31, 2023.
