Tuesday, June 14, 2016

Croesus Retail Trust

Croesus Retail Trust: Internalisation of trustee-manager
- Proposes to bring management of trust “in-house”
- To acquire trustee-manager from Sponsor/Strategic Partners for $50m, partially funded by underwritten non-renounceable preferential offering
- 1% accretion to proforma FY15 DPU
- DBSV maintains BUY with TP of $0.90

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