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Shareholders of Hong Kong-listed ESR Group Ltd. have approved a $7bn buyout by a group of global investors including Starwood Capital Group, Sixth Street Partners, SSW Partners, Warburg Pincus, Qatar Investment Authority and ESR’s founders. The deal offered HKD 13/share ($1.66/share) via a scheme of arrangement and received overwhelming shareholder support. ESR is expected to be delisted from the Hong Kong Stock Exchange by July 3. The company co-founders said that ESR would be better positioned to focus on its long-term strategic transformation and value creation for all stakeholders after privatisation.
ESR’s SGD 4.05% 2030s is trading positive at 100.782, yielding 3.87%.
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