SUBSCRIBERS

OUE C-Reit to buy majority stake in One Raffles Place for S$1b

Through an indirect acquisition, its resulting effective stake will be 61.16-67.95%

Published Wed, Jun 10, 2015 · 09:50 PM

Singapore

OUE Commercial Reit (OUE C-Reit) is acquiring a majority stake in mixed-use development One Raffles Place from its sponsor OUE Limited for S$1-1.1 billion at an estimated S$2,382 per square foot (psf) of net lettable area.

On completion of the transaction, the Reit's effective stake in One Raffles Place is expected to be between 61.16 and 67.95 per cent, OUE C-Reit said on Wednesday.

This marks its first maiden ac…