By The Smart Investor
Publication Date: 2025-12-26 23:30:00
Merry Christmas and happy holidays!
It’s a quiet week at the SGX but we did have a couple of news to share plus a major acqui-hire across the pond by NVIDIA (NASDAQ: NVDA).
Volare Group has entered into a sales and purchase agreement with ESR Group (SEHK: M1GU) to acquire ESR’s 241.6 million units in Alpha Integrated REIT (AIR, SGX: M1GU), representing 21.5% of AIR, at S$0.40 per unit.
AIR was formerly called Sabana REIT.
Post-acquisition, Volare will control approximately 41.3% of the total issued units, crossing the 30% threshold stipulated by Rule 14 of the Singapore Code on Take-overs and Mergers.
This has triggered a mandatory cash offer at S$0.48 per unit for all remaining units.
The price represents a premium over all recent historical trading prices, including a slight 2% premium over its last transacted price and up to a 14.3% premium over its 12-month volume-weighted average price (VWAP).
Volare would like to keep AIR listed.
However, if AIR’s free float falls below 10%, it may be delisted from the SGX.
Manulife US REIT (SGX: BTOU) announced that lenders have formally executed concessions under its Master Restructuring Agreement (MRA), providing crucial relief for the beleaguered US office REIT.
The concessions include:
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An extension of the disposal deadline from 31 December 2025 to 30 June 2026
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An extension of the temporary relaxation of financial covenants, with the unencumbered gearing threshold relaxed to 80%…
