Blackstone Real Estate Proposes to Privatize Croesus Retail Trust
06.29.17
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Simpson Thacher is representing affiliates of Blackstone Real Estate in connection with its proposed acquisition of all the issued units in Croesus Retail Trust (“CRT”). CRT is an SGX-listed Asia-Pacific retail business trust with a portfolio of commercial real estate assets located in Japan. The acquisition will be effected by way of a trust scheme in compliance with the Singapore Code on Take-overs and Mergers. Unitholders will receive S$1.17 in cash per unit as scheme consideration, representing an implied equity value for CRT of approximately S$900.6 million.
The Simpson Thacher team includes Anthony King, Anthony Chan and Bridget Huang (Real Estate); Peter Vassilev, Steven Klar, Drew Harmon and Matthew Kemp (Private Funds); Étienne Renaudeau (Antitrust); and Meredith Jones and Joseph Tootle (Tax).