Aelios revises offer price for Suntec REIT up to $1.19 per unit

This is up from $1.16 per unit as announced in December.

United Overseas Bank Limited and DBS Bank Ltd, on behalf of Aelios Pte. Ltd. as its joint financial advisers, announced an increased cash offer of $1.19 per unit, up from $1.16 as announced in the previous month, for all issued and outstanding units in Suntec Real Estate Investment Trust (Suntec REIT), according to a bourse filing.

Unitholders who have earlier accepted the offer are eligible for the revised offer price, provided the offer becomes or is declared unconditional in all respects as per its terms.

Accordingly, no further action is required to be taken by unitholders who have already validly accepted the offer.

Under Rule 20.1 of the Singapore Code on Take-overs and Mergers, the offer must remain open for at least 14 days from the date of posting of the written notification of revision to unitholders.

In addition, the closing date of the offer is extended from 5:30 p.m. on 20 January to 5:30 p.m. on 3 February or such later date(s) as may be announced by or on behalf of Aelios.

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