Warburg Pincus LLC, The Straits Trading Company Limited (SGX:S20), JL Investment Group Limited, and CK Asset Holdings Limited (SEHK:1113) agreed to acquire stake in ARA Asset Management Limited from AVIC Trust Co, Ltd. on May 26, 2020. As per the transaction, Warburg Pincus will hold 48.7% stake and Straits Trading Company Limited, JL Investment Group, and CK Asset Holdings will hold an aggregate shareholding of 51.3% of the issued shares post-Transaction. AVIC Trust has exited as a shareholder as part of the Transaction. The deal is subject to regulatory approvals and other conditions. JL Investment Group Limited acquired shares in ARA Asset Management on June 2, 2020. The deal is expected to be completed by May 2021.

Warburg Pincus LLC, The Straits Trading Company Limited (SGX:S20), JL Investment Group Limited, and CK Asset Holdings Limited (SEHK:1113) cancelled the acquisition of stake in ARA Asset Management Limited from AVIC Trust Co, Ltd. on August 4, 2021. Deal terminated as another transaction has been signed with ESR Cayman Limited.