Croesus sends acquisition letter of intent

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Singapore-listed Japan-focused retail property trust Croesus Retail Trust (SGX:S6NU) has sent notices of intent to purchase to shopping Japanese shopping malls Mallage Saga and Forecast Kyoto Kawaramachi on 30 June.

The notices are being sent in exercise of its first right to negotiate for the purchase of each of these properties until 30 September 2014 and may indicate the the trust is positioning itself to add these properties into its portfolio.

However managers for Croesus Retail Trust emphasised that no definitive sale and purchase agreement has been executed in relation to any of the properties and that accordingly there can be no assurance that any acquisitions of any of the abovementioned properties will materialise. The notices are being sent as an exercise of its right.

Units of Croesus Retail Trust ended 0.53% on the news, closing the day at SGD0.955 on the Singapore Exchange.

Croesus Retail Trust may have positioned itself for possible acquisitions.

Croesus Retail Trust may have positioned itself for possible acquisitions.

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