Frasers Property Investments (Europe) or FPIE currently holds a 94.9% stake in three of the four property holding companies while FPE Investments currently holds 94.0% of the stake in the fourth company. FPIE and FPE Investments will continue to hold stakes of 5.0% and 4.1% respectively in the interests in the companies.
The manager of Frasers Logistics & Commercial Trust (SGX:BUOU
) (FLCT) has agreed to acquire an 89.9% stake in the equity interests in the property-owning companies which hold four logistics properties located in Germany. The agreed property purchase price for the new properties is EUR129.5 million ($188.9 million) representing a discount of 5.3% and 1.1% to the appraised value by Colliers and CBRE respectively.
A conditional share purchase agreement (SPA) between FLT Europe B.V., a wholly-owned subsidiary of FLCT’s trustee and Frasers Property (SGX:TQ5) Limited’s (FPL) subsidiaries, Frasers Property Investments (Europe) B.V. and FPE Investments RE11 B.V., were entered into on March 14.
