Acrophyte wins MAS approval for ESR Suntec REIT manager buy

The deal covers ESR Group’s 100% indirect stake.

Acrophyte Asset Management Pte. Ltd., controlled by businessman Gordon Tang, has received approval from the Monetary Authority of Singapore (MAS) for the acquisition of the management company of Suntec Real Estate Investment Trust (Suntec REIT).

The deal involves Acrophyte acquiring ESR Group Limited’s 100% indirect stake in the Suntec REIT Manager, following a conditional sale and purchase agreement with subsidiaries of ESR Group Limited.

The manager noted that the acquisition had been contingent on approval from MAS. Acrophyte has now confirmed that this approval has been obtained. The completion of the acquisition is scheduled for 17 March 2026.

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