Blackstone to pay $1.17 in cash per unit to acquire Croesus Retail Trust

SINGAPORE (June 28): Affiliates of Blackstone Real Estate have proposed to acquire all the issued units in Croesus Retail Trust (CRT) by way of a trust scheme for a consideration of $1.17 in cash per unit.

Based on the scheme consideration, the implied equity value of CRT is approximately $900.6 million.

In addition, if the effective date of the acquisition falls on or before Oct 31, unitholders may receive distributable income of CRT up to an aggregate of approximately $31.3 million, representing approximately 4.06 cents per unit.

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