Mapletree Commercial Trust completed the acquisition of Mapletree North Asia Commercial Trust from a group of shareholders.
The transaction is subject to regulatory approvals, approval by third party, grant of the order of the high court of the Republic of Singapore and approval by shareholders of Mapletree Commercial Trust and Mapletree North Asia Commercial Trust. On March 21, 2022, another condition of approval in-principle from the SGX-ST for the listing and quotation of the Consideration Units and Preferential Offering Units is added to the merger. An in-principle approval has been obtained on April 25, 2022, from Singapore Exchange Securities Trading Limited for the listing and quotation of up to 2,114 million Consideration Units and up to 1,094 million Preferential Offering Units on the Main Board of the SGX-ST. As of June 1, 2022, approval in-principle from the Singapore Exchange Securities Trading Limited for the proposed delisting of MNACT from the Official List of the SGX-ST was received. The transaction is expected to close by end of May 2022. As of July 7, 2022, the transaction is sanctioned by the court and is expected to complete on July 21, 2022. DBS Bank Ltd. and Australia and New Zealand Banking Group Limited (ASX:ANZ) acted as financial advisors to Mapletree Commercial Trust and The Hongkong and Shanghai Banking Corporation Limited (Singapore) and Deloitte & Touche Corporate Finance Pte Ltd. acted as financial advisors to Mapletree North Asia Commercial Trust.
Mapletree Commercial Trust (SGX:N2IU) completed the acquisition of Mapletree North Asia Commercial Trust (SGX:RW0U) from a group of shareholders on July 21, 2022. The name will be changed from Mapletree Commercial Trust to Mapletree Pan Asia Commercial Trust with effect from August 3, 2022.