SINGAPORE (Nov 29): Perennial Real Estate announced that is has secured a call option agreement for US$4 to acquire a 20% stake in Aviva Tower based on an agreed property value of £330 million ($584 million).

In an SGX filing, the company stated that the price was derived based on “as is” market valuation of Aviva Tower of £323 million without accounting for any potential redevelopment value.

The purchase of the 20% stake will be made through Aroland Holdings which owns a 100% stake in Aviva Tower.

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