This site uses cookies to provide you with a great user experience. By using BondbloX, you accept our use of cookies.
Bond Market News
ESR Completes ARA Asset Management Takeover
January 21, 2022
ESR Cayman completed its 100% acquisition of ARA Asset Management for $5.2bn, less than three months after its shareholders approved the deal. Following the acquisition, ESR is now the world’s third-largest listed real estate investment manager with gross AUM of $140bn. ESR Cayman bought all of ARA’s share capital with $4.7bn in new ESR shares at HKD 27/share and vendor loan notes, plus $519mn in cash partly funded by a $250mn share placement to SMBC. “Bringing in ARA expands the group’s network by adding 59 new capital partners”, ESR said.
ESR Cayman’s bonds were slightly higher with its SGD 5.65% Perp up 0.2 to 100.48, yielding 5.52%
For the full story, click here
Go back to Latest bond Market News
Related Posts:
BondbloX Pte. Ltd. is regulated by the Monetary Authority of Singapore as a Recognised Market Operator ("RMO") and exempted from Section 49(1) of the Securities and Futures Act (Cap. 289) ("SFA") under Section 49(7) of the SFA.