S$1.2 billion proposed combination of Ascott Residence Trust and Ascendas Hospitality Trust to form Asia-Pacific’s largest hospitality trust
Allen & Gledhill is advising Ascott Residence Trust (“Ascott REIT”), on the S$1.2 billion proposed combination of Ascott REIT and Ascendas Hospitality Trust (“Combination”).
The Combination will create a combined portfolio of 88 properties with more than 16,000 units in 39 cities and 15 countries across Asia Pacific, Europe and the US.
The combined entity will become the largest hospitality trust in Asia Pacific and the eighth largest trust globally with a total asset value of S$7.6 billion. It will also become the seventh largest trust listed on the Singapore Exchange by asset value.
Advising Ascott REIT were Allen & Gledhill Partners Prawiro Widjaja, Chua Bor Jern, Tham Hsu Hsien, Teh Hoe Yue, Counsel Ivan Lim and Senior Associate Jessie Lim.
Advising Ascott REIT on competition and antitrust issues was Allen & Gledhill Partner (Chief Economist) Elsa Chen.
Advising Ascott REIT on tax issues was Allen & Gledhill Partner Lim Pek Bur.
Advising Ascott REIT on real estate matters was Allen & Gledhill Partner Fock Kah Yan.
