Frasers Centrepoint to acquire European real estate company for $471.6 mil

SINGAPORE (April 17): Frasers Property International, the wholly-owned subsidiary of Frasers Centrepoint Limited (FCL), has entered into a conditional agreement to acquire an 86.56% stake in Geneba Properties N.V. for EUR 315.9 million ($471.6 million) from Catalyst RE Coöperatief U.A.

Following the acquisition, Frasers Property has also agreed to make an all-cash offer for the remaining 13.44% free-float interest in Geneba at an equivalent offer price of EUR 3.67 per depositary receipt.

Headquartered in Amsterdam, the Netherlands, Geneba is an European commercial real estate company listed on NPEX, the SME stock exchange in the Netherlands.

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