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PAG's hostile bid for Spring REIT underscores take-private trend in Asia

Oct 15, 2018 - PERE

Hong Kong-based alternatives investment manager PAG's HK$5.24 billion ($670 million; (EURO)580 million) takeover bid for Spring REIT is the first voluntary takeover attempt by a non-controlling shareholder in a Hong Kong-listed REIT.


PAG's conditional cash offer of HK$4.85 for each unit of Spring REIT, which formally opened on October 2, comes over a year after the firm made a public critique of the REIT, whose portfolio  includes two office towers and approximately 600 c...