Aelios Launches $2.53 Billion Bid for Full Ownership of Suntec REIT

10 Dec 2024 CW Team

Aelios, a Singaporean company owned by billionaire Gordon Tang, has made an offer to purchase the remaining shares it does not own in Suntec Real Estate Investment Trust (REIT), valuing the REIT at S$3.39 billion ($2.53 billion).

Under the offer, Aelios will acquire Suntec REIT shares at a price of S$1.16 per share in cash. Based on Reuters' estimates, Aelios would need to invest $1.74 billion to purchase all outstanding shares of the REIT.

This move follows Aelios' acquisition of over 62 million shares, or 2.14%, in Suntec REIT on Thursday, raising its stake from 29.31% to 31.45%, which triggered a mandatory general offer.

The offer price matches Suntec REIT鈥檚 closing price of S$1.16 on December 4. Aelios has stated its intent to keep Suntec REIT listed on the Singapore stock exchange.

Aelios has assured it possesses adequate financial resources to fulfill the full acceptance of its offer. United Overseas Bank and DBS are acting as joint financial advisors for Aelios.

Building Material

16 Jun 2025

Adani Cement and CREDAI to Elevate Sustainable Urban Construction

Adani Cement and CREDAI (Confederation of Real Estate Developers鈥� Associations of India) have entered an exclusive preferred partnership to advance sustainable and high-quality construction in India. The signing took place in the presence of Hon鈥檅le Chief Minister of Goa, Pramod Sawant, during the CREDAI Governing Council Meeting held in Panjim, attended by industry body office bearers and leading developers from across the country.This strategic alliance brings together Adani Cement and the country鈥檚 apex body of private real estate developers, aiming to benefit both organisations and t..

Infrastructure Urban

16 Jun 2025

DCVMI Inaugurates New Manufacturing Plant in Cikarang

Daimler Truck marked a significant milestone in its regional expansion with the opening of Daimler Commercial Vehicles Manufacturing Indonesia (DCVMI)鈥攁 cutting-edge greenfield manufacturing facility located in the Cikarang Industrial Area, Indonesia. This strategic investment underscores Daimler Truck鈥檚 long-term commitment to Southeast Asia, tailored to meet the region鈥檚 dynamic and evolving mobility needs. The new DCVMI plant spans 15 hectares and has an annual production capacity of 5,000 Mercedes-Benz trucks and buses. With a total investment of IDR 500 billion, this facility e..

Equipment

16 Jun 2025

Govt Defers OTR-2024 Implementation to September 2026

In a significant development for the construction, mining, and heavy equipment industries, the Ministry of Heavy Industries (MHI) has officially deferred the implementation of the Machinery and Electrical Equipment Safety (Omnibus Technical Regulation) Order, 2024 (OTR-2024) by one year. The new compliance date is now set for September 1, 2026.The OTR-2024, originally notified on August 28, 2024, was to come into effect from August 28, 2025. It aimed to regulate the safety of machinery and electrical equipment, including earthmoving, construction, mining equipment, cranes, and their assemblies..